The South Pacific Stock Exchange (SPX) made a significant mark at the 63rd General Assembly and Annual Meeting of the World Federation of Exchanges (WFE), the foremost global group for exchanges and Central Counterparties (CCPs). This prestigious event, hosted by Bursa Malaysia in Kuala Lumpur, brought together over 300 key figures from the industry, including regulatory authorities and representatives from more than 50 global organizations, to engage in vital discussions about the future of capital markets.
SPX’s participation in this year’s meeting was particularly noteworthy as it was the exchange’s debut at the WFE Annual Meeting, attending as an invited guest exchange. This opportunity allowed SPX to re-establish its presence within the global stock exchange community after several years of absence.
The event featured a variety of highlights, including a keynote address from Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Ibrahim, a candid dialogue with the Finance Minister II, YB Senator Datuk Seri Amir Hamzah Azizan, and a compelling session led by renowned primatologist Dr. Jane Goodall, focusing on the intersection of financial markets and biodiversity. The discussions emphasized the importance of sustainable practices within financial systems.
Additionally, various panels covered significant topics such as modern market infrastructure, the evolving role of stock exchanges, the future landscape for initial public offerings (IPOs), and the transition to T+1 settlement processes. These discussions provided valuable insights into the changing dynamics of international capital markets.
SPX CEO Sheraj Obeyesekere engaged in discussions with peer exchanges on collaboration and knowledge sharing aimed at advancing the Fijian stock market and enhancing its infrastructure. He expressed that this event was a crucial opportunity for SPX to make impactful connections at a global level, striving for growth within the Fijian stock market.
Obeyesekere stated, “Participating in this global gathering of capital market leaders allowed us to discuss key policy measures that will drive capital formation and financial inclusion.” He highlighted that strengthening international relations is a strategic priority for SPX and emphasized that their participation signals a pivotal step towards building partnerships with the industry and peer exchanges, which will lead to improved practices and standards in the Fijian market.
The WFE members represent exchanges housing over 55,000 listed companies, with a market capitalization exceeding $111 trillion and an annual trading volume of about $124 trillion as of the end of 2023. This demonstrates the WFE’s commitment to promoting the development of transparent and stable markets in collaboration with regulators and policymakers worldwide.
Moreover, the return of the WFE Annual Meeting to Malaysia, after a hiatus of 26 years, adds a historical significance to the gathering, enhancing the country’s profile in global finance.
Overall, SPX’s participation at this influential event signifies a hopeful new chapter for the Fijian stock exchange, indicating its ambitions not just to be a participant but a competitive player in the international financial arena. As SPX prepares for future collaborations, this renewed engagement presents promising prospects for the development of capital markets in Fiji.
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