Singapore Exchange has introduced depository receipts for Elon Musk's SpaceX, ride-hailing firm Grab, and tech conglomerate Sea and signed a new licensing agreement with global index provider MSCI.
Singapore's bourse operator said that trading for the depository receipts allows investors to trade the companies in Singapore Dollar during local market hours.
The three inclusions expand SGX's offering to 38 depository receipts across Thailand, Indonesia, Hong Kong, and the United States, the statement said.
SGX said the launch would allow retail investors to access exposure to the equities, with the DRs allowing for a simplified and convenient way to gain exposure in the local currency.
The introduction of SpaceX's depository receipts comes after its rockets-to-AI blockbuster IPO last month, the largest ever.
Grab and Sea, although listed in the US, are both headquartered in Singapore.
"By minimising traditional pain points such as foreign exchange friction and overseas market complexities, investors can conveniently build a globally diversified portfolio in SGD within a familiar trading environment," Bernice Tan, Securities Market & Depository with SGX said.
Singapore Exchange also said it has signed a new licensing agreement with global index provider MSCI, in a bid to scale up its derivatives offerings.
The deal will see Singapore's bourse operator introducing up to 100 new derivatives contracts.
The initial phase comprises around 40 futures and options contracts, spanning MSCI's flagship global developed-market benchmarks, key Asia-Pacific single-country indexes, and Emerging Market Asia sector indexes.
The expansion is intended to broaden SGX's equities derivatives franchise beyond the exchange's existing access to key Asian exposures, to also include global, regional and sector-specific exposures investors use to allocate capital and manage risk.
Reuters and staff reporter
