Nasdaq and Singapore Exchange to simplify dual listings

(Sharecast News) - Nasdaq and Singapore Exchange-owner SGX Group have struck a partnership deal intended to simplify dual listings, the companies confirmed on Wednesday.

Under the terms of the agreement, SGX and Nasdaq will launch a harmonised cross-border listing framework that bridges the two markets in New York and Singapore.

The so-called dual listing bridge, which is scheduled to go live in mid-2026, will be open to companies with a market capitalisation of $1.5bn-plus.

In a joint statement SGX and Nasdaq said that as well as streamlining regulatory obligations, the global listing board would reduce "friction, complexity and cost", although it did not provide further details.

The proposed regulatory framework, which has yet to be finalised, will however seek to establish prospectus disclosure requirements in Singapore that are comparable to the US, allowing for the use of a single set of offering documents in a dual listing.

The deal is part of a package of measures by Monetary Authority of Singapore, the island city-state's central bank, intended to bolster the equities market.

Loh Boon Chye, chief executive of SGX, said: "The proposition is clear: access to US market depth and Asia growth in a streamlined pathway.

"We hope to attract quality growth-orientated companies with an Asian nexus seeking to expand their investor base without having to navigate the complexity of dual regulatory regimes."

Nasdaq chief executive Adena Friedman said: "In a world of increasing complexity and sometimes fragmenting markets, this initiative demonstrates that cooperation, smart regulation and shared standards can create opportunity at scale."