(Reuters) - Singapore Exchange (OTC:SPXCY) Ltd (SGX) said on Friday it will team up with the New York Stock Exchange for dual listing of companies on both the bourses, allowing investors to tap overseas investment opportunities on the two major exchanges.
The two stock exchanges will also explore development of more exchange-traded funds products (ETFs), new environmental-social-corporate governance (ESG) products and services, among others, the two bourses said in a joint statement.
"It (agreement) 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," SGX Chief Executive Officer Loh Boon Chye said.
"Dual listings between the NYSE and SGX Group benefit issuers by allowing them to tap into pools of capital in key markets outside of their home regions," the two bourses said.
($1 = 1.3892 Singapore dollars)