By P.R. Venkat
Singapore Exchange Ltd. and the New York Stock Exchange are working to offer dual listings of companies on both exchanges, a move aimed at deepening their capital markets.
As part of the agreement, the exchanges will also develop new products related to environmental, social and governance investing, as well as exchange-traded funds, they said a joint statement Friday.
"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," NYSE President Lynn Martin said.
According to the statement, dual listings will benefit issuers as it will allow them to tap into pools of capital in key markets outside of their home regions.
SGX Chief Executive Loh Boon Chye said that the collaboration was aimed at creating 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."
Write to P.R. Venkat at [email protected]