Nasdaq Inc and Singapore Exchange (SGX) have 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, Singapore Exchange 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.