Singapore Exchange (SGX) and the New York Stock Exchange (NYSE), which is a part of Intercontinental Exchange (ICE), have signed an agreement to collaborate on the dual listing of companies on both exchanges.
Dual listings between both exchanges will benefit issuers by allowing them to tap into pools of capital in key markets outside of their home regions, says SGX in a bourse filing.
The agreement was signed virtually on July 22 by SGX’s CEO Loh Boon Chye and Lynn Martin, the president of NYSE.
The collaboration will also see both exchanges working together in a number of “other key areas” focused on the capital markets. This includes identifying and developing new environmental, social and governance (ESG) products and services, supporting index product development at SGX and NYSE affiliate ICE data indices and exploring new exchange-traded fund (ETF) products.
In addition, the agreement will coordinate compliance efforts for dual-listed companies.
“This agreement underscores SGX Group and NYSE’s joint interest in driving greater collaboration between the two exchanges. It aims to create a more connected ecosystem to facilitate access to capital and the development of new investment solutions to address growing complex needs of market participants and investors,” says Loh.
“This collaboration between NYSE and SGX Group creates an important new connection between two of the world’s most exciting regions and two of its most innovative stock exchanges. Our agreement will bring issuers access to greater opportunity as well as drive the development of new products in high-demand areas such as ESG. We look forward to working together with SGX Group to further advance our global capital markets,” Martin adds.