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SGX and SPDB sign MOU to Boost Capital Market Ties
Singapore Exchange (SGX) announced the signing of a memorandum of understanding (MoU) with the Shanghai Pudong Development Bank (SPDB) at the third Singapore-Shanghai Financial Forum. The agreement is intended to strengthen capital market ties between Singapore and Shanghai as the SGX and the SPDB work closely together to raise the profile of Singapore’s capital market.

mong the several areas for closer collaboration covered by the MoU, the SPDB will recommend Chinese enterprises to raise funds through initial public offers (IPOs), listing of Real Estate Investment Trusts (REITs) and Business Trusts, and issuance of Offshore Renminbi (RMB) Bonds, including depositing their bonds where applicable, in the Central Depository of SGX. Financial and commodity markets are included, with SPDB accessing gold futures trading on SGX.

Other areas of cooperation, such as bulk commodities, freight, foreign exchange, derivatives and bond trading, will also be discussed.

Chew Sutat, Head of Equities and Fixed Income at SGX, said, “SGX’s partnership with SPDB is another milestone in our collaboration with market participants in China. It will deepen ties through knowledge exchange and joint discovery of business opportunities. Our partnership with SPDB which is well-regarded within China’s capital market for its outstanding performance and business innovation will not only raise Singapore’s profile as an offshore center and international exchange, but also support Chinese companies’ capital-raising needs as they seek international opportunities and profiling.”

Commenting on the MoU, Cui Bingwen, Executive Vice President of SPDB, said, “We hope that by working together with SGX, we can better serve Chinese corporates going global and help them tap international capital markets”,