Fiji’s South Pacific Stock Exchange Pte Limited (SPX) and Papua New Guinea’s PNGX Group Limited have demonstrated a commitment to fostering innovation and sustainability in the capital markets of Fiji and the broader South Pacific region by entering into a Memorandum of Understanding (MOU) aimed at technology sharing. This initiative focuses on the development and deployment of advanced market infrastructure that supports the growth and sustainability of capital markets in these nations.
This latest MOU builds upon a previous agreement established in December 2019 and aims to deepen cooperation between the two exchanges. Key areas of focus under this agreement include the joint development of technology infrastructure and integrated platforms for trading, clearing, and settlement. By collaborating on technology platforms, SPX and PNGX Group plan to enhance operational efficiency and accessibility, ultimately elevating the global appeal of capital markets in the South Pacific.
SPX Chair Nitin Gandhi emphasized that this collaboration marks a pivotal step toward integrating capital markets in Fiji and Papua New Guinea. He noted a commitment to unlocking new opportunities for economic progress across the region. David Lawrence, Chairman of PNGX Group, echoed this sentiment, highlighting a unified vision to create resilient market infrastructure that fosters sustainable long-term investments.
Both exchanges will maintain their distinct identities while leveraging synergies from the partnership, which reflects a shared vision of promoting robust and inclusive capital markets to drive regional economic growth.
In summary, the renewed collaboration between SPX and PNGX Group represents a hopeful step forward for capital markets in the South Pacific, aiming to modernize their operations and enhance economic opportunities in the region. By combining resources and expertise, they position themselves to respond effectively to the evolving demands of the financial sector.
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