Singapore Exchange and Philippine Stock Exchange sign pact to explore depository receipts and cross-listings

SGX Group and the Philippine Stock Exchange have signed a Memorandum of Collaboration to explore depository receipts, exchange-traded funds and derivatives linking the Singapore and Philippine markets.

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Singapore bourse operator SGX Group said on 22 October it has signed an agreement with the Philippine Stock Exchange (PSE) to explore a range of offerings, including depository receipts, The Straits Times reported.

According to the PSE, the Memorandum of Collaboration was signed on the sidelines of the ASEAN Capital Markets Forum. The collaboration will explore more seamless pathways for issuers to access capital across both markets, while giving investors more investment and trading opportunities through products such as ETFs built around investment themes common to both markets and derivatives. The PSE said it marks the most comprehensive collaboration to date between the two exchanges.

"Closer links between our markets can make that opportunity more accessible, while giving companies more avenues to reach capital and investors across the region," said Loh Boon Chye, CEO of SGX Group. SGX Group already offers depository receipts of Thai, Hong Kong and Indonesian stocks, The Straits Times reported.

PSE president and CEO Ramon Monzon said the exchange is eager to expand trading opportunities for both Filipinos and Singaporeans, The Philippine Star reported. The Philippines chairs ASEAN this year, while Singapore will assume leadership in 2027.