Singapore Exchange and NASDAQ OMX Extend Cooperation
ADR Trading on GlobalQuote Starts Today
New Collaboration Includes Dual Listings
NEW YORK and SINGAPORE, Oct. 21, 2010 (GLOBE NEWSWIRE) -- Following the cooperation to bring American Depository Receipts (ADRs) on GlobalQuote, Singapore Exchange (SGX) and NASDAQ OMX (Nasdaq:NDAQ) today also announce plans to offer companies the opportunities for listing on both exchanges.
The listing co-operation includes offering a cross listing opportunity to currently listed companies on both the NASDAQ Stock Market and SGX as well as dual listing opportunities for new IPOs. This initiative potentially allows better price discovery and trading opportunities in the Asian and U.S. time zones. NASDAQ-listed companies with strong brand awareness and active business endeavors in Asia will benefit from a secondary listing on SGX. SGX-listed companies interested in reaching U.S. investors will be able to list their ADRs on the NASDAQ Stock Market.
At 9am today, 19 American Depositary Receipts of Asian companies will be quoted for trading on the GlobalQuote board on Singapore Exchange (SGX). SGX and NASDAQ OMX intend to add more ADRs from Asian-based companies onto GlobalQuote, providing investors with an array of trading opportunities, including some that were previously unavailable during the Asian trading day.
Magnus Bocker, CEO of SGX, said, "The partnership with NASDAQ OMX will bring a wider selection of investment choices to our investors and offer companies access to an enlarged pool of investors. This strengthens our Asian gateway strategy."
Bob Greifeld, CEO of NASDAQ OMX, said, "We have a strong working relationship with SGX that goes back to 2003, when we provided the technology platform for their trading system. The collaboration we are announcing today is a natural next step in our relationship and will give our customers the ability to increase their investor base and reach a more global investor community."
About Singapore Exchange
Singapore Exchange (SGX) is among the world's largest exchanges and Asia's second largest listed exchange. As the Asian gateway, SGX is the market of choice for investors wanting to participate in Asia's vibrant and rapidly-growing economies, and for Asian issuers seeking international capital.
SGX's extensive suite of securities, derivatives and commodities products makes it Asia's most international exchange. SGX's services range from listings, trading, high-speed market access, clearing and settlement to depository services and Central Counter Party services for OTC traded derivatives. With the region's longest trading hours, and powered by cutting edge technology, SGX is the unparalleled conduit for investment flows into and out of Asia.
For more information, please visit www.sgx.com
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/nasdaqomx) and Twitter (http://www.twitter.com/nasdaqomx).
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are no limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
CONTACT: NASDAQ OMX Media Contacts U.S. Frank De Maria +1 212 231 51 83 Frank.firstname.lastname@example.org Europe Anna Rasin +46 8 405 6612 email@example.com SGX Media Contact Magdalyn Liew, Communications +65 6236 8157 firstname.lastname@example.org Carolyn Lim, Communications +65 6236 8658 email@example.com
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