The South Pacific Stock Exchange (SPX) made an important mark at the 63rd General Assembly and Annual Meeting of the World Federation of Exchanges (WFE) held in Kuala Lumpur, Malaysia. This event represented a crucial opportunity for SPX to re-establish its presence on the global stage, as it was invited for the first time after years of absence.
The gathering convened over 300 leaders, regulators, and institutional representatives from more than 50 organizations, providing an essential platform for discussions regarding the future of capital markets. SPX’s attendance is particularly significant because the WFE Annual Meeting is generally exclusive to WFE member and affiliate exchanges.
Among the highlights of the event was a keynote address by Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Ibrahim, along with a discussion featuring Malaysia’s Finance Minister II, YB Senator Datuk Seri Amir Hamzah Azizan. A noteworthy session included renowned primatologist Dr. Jane Goodall discussing the intersection of financial systems and sustainability, underscoring the responsibility of stock exchanges in promoting biodiversity and environmental stewardship.
In addition, the event featured valuable panel discussions on modernizing market infrastructure, the evolving roles of stock exchanges, the future of Initial Public Offerings, and the global transition to T+1 settlement. These conversations illuminated the trend of changing dynamics within international capital markets.
SPX CEO Sheraj Obeyesekere took part in several constructive meetings with peer exchanges, focusing on collaboration, knowledge sharing, and the advancement of Fiji’s stock market infrastructure. He remarked that this gathering was a vital opportunity for SPX to reconnect with the global stock exchange community, heralding a new era for the Fijian market.
Looking forward, SPX intends to announce formal collaborations with WFE member exchanges as a direct outcome of its participation in this event. The WFE, which oversees exchanges representing more than 55,000 listed companies with a collective market capitalization exceeding $111 trillion, plays a pivotal role in fostering fair and transparent global markets.
This year’s WFE meeting also marked a historic return to Malaysia, the last being in 1998, signifying a promising pathway for both the SPX and the broader exchange community to collaboratively enhance the landscape of global finance.
In summary, SPX’s participation in the WFE meeting is a hopeful step toward revitalizing its role in the global market and promoting the growth of Fiji’s stock exchange infrastructure. The exchange is poised for strengthened international relations and innovative collaborations in the upcoming months.
Leave a comment