Singapore: Country and Foreign Investment
On December 1, 1999, the Stock Exchange of Singapore and the Singapore International Monetary Exchange merged to form the Singapore Stock Exchange (SGX). On November 23, 2000, it was the first Asia-Pacific exchange to be listed via a public offer and a private placement. The SGX’s stated aim is “to offer a highly trusted securities & derivatives marketplace for capital raising, risk transfer, trading, clearing and settlement”.
The SGX has forged a number of strategic alliances with other exchanges, including: a joint venture with the American Stock Exchange to promote Exchange Traded Funds; a securities co-trading link with the Australian Stock Exchange; an agreement with the Baltic Exchange for the provision of the Baltic Exchange’s benchmark prices for the settlement of Forward Freight Agreements; and a futures trading link with the Chicago Mercantile Exchange.