Nasdaq and SGX Establish Collaborative Listings Agreement
October 18 2017 - 9:42AM
YASTEST
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.
About Nasdaq
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.
Media Contacts
Nasdaq
Stephanie Lowenthal
(646) 441-5073
Stephanie.Lowenthal@nasdaq.com
Emily Pan
(646) 441-5120
emily.pan@nasdaq.com
SGX
Ho Lily
Marketing & Communications
(65) 6713 6786
lily.ho@sgx.com
-NDAQG-
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Nasdaq via Globenewswire
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