Nasdaq and SGX Establish Collaborative Listings Agreement
NEW YORK and SINGAPORE, Oct. 18, 2017 (GLOBE NEWSWIRE) -- Nasdaq Inc. (Nasdaq:NDAQ) and Singapore Exchange (SGX) today announced the signing of a collaborative agreement in a move to leverage their strengths as two of the leading listings venues in the U.S. and Asia respectively. The new agreement seeks to enhance the channels available for companies to access capital market funding and enhance their corporate profile in both markets.
As part of this agreement, Nasdaq and SGX -- who also share a successful, long-term market technology relationship -- are currently exploring the demand among corporates for a concurrent or sequential listing on both exchanges. Nasdaq and SGX are committed to supporting companies that are interested in pursuing this route.
“The business landscape today is borderless,” said Loh Boon Chye, CEO, SGX. “Fast-growing Asian companies looking to tap the capital markets can choose to list on SGX on Asian home ground, and embark on a listing on Nasdaq as they expand their business globally. We are excited to partner with Nasdaq in this collaboration to provide value-add to SGX’s listed companies who are looking to extend their reach in the capital markets and raise their profile in the United States. Through this partnership, we also look forward to enhancing the awareness of Nasdaq’s suite of corporate services in Asia.”
“We recognize the unprecedented growth across Asia and its strategic importance in driving the next phase of innovation,” said Adena Friedman, President and CEO of Nasdaq. “Nasdaq is proud to be the home exchange to many successful innovators across Asia as well as a strategic partner to SGX, a preeminent exchange in the region. We look forward to helping companies access global capital markets and the broader investment community through this partnership.”
Both parties are also reviewing the feasibility of bringing Nasdaq’s International Designation program to existing SGX-listed companies that wish to enhance their corporate profile and tap the investor base in the United States. Discussions are also underway to cross-promote Nasdaq and SGX’s marketing activities in North America and Asia.
Lastly, SGX has also started exploring the feasibility of streamlining the listing processes of both exchanges to create a more efficient pathway for companies seeking a listing in both venues.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately US$12 trillion. To learn more, visit: http://business.nasdaq.com
About Singapore Exchange (SGX)
Singapore Exchange is Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets to the highest regulatory standards. As Asia’s most international, multi-asset exchange, SGX provides listing, trading, clearing, settlement, depository and data services, with about 40% of listed companies and 75% of listed bonds originating outside of Singapore.
SGX is the world’s most liquid offshore market for the benchmark equity indices of China, India, Japan and ASEAN and offers commodities and currency derivatives products. Headquartered in AAA-rated Singapore, SGX is globally recognised for its risk management and clearing capabilities. For more information, please visit www.sgx.com.
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