The South Pacific Stock Exchange (SPX) made a notable appearance at the 63rd General Assembly and Annual Meeting of the World Federation of Exchanges (WFE) in Kuala Lumpur, Malaysia, signifying an important step in its global re-engagement.
This year’s assembly attracted over 300 leaders, regulators, and representatives from more than 50 organizations, creating a dynamic platform for high-level discussions about the future of capital markets. Notably, SPX attended as an invited guest for the first time, marking a significant moment for the Fijian exchange, which had not participated in such global events for several years.
The gathering included several important sessions, featuring a keynote address from Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Ibrahim, as well as a fireside chat with Malaysia’s Finance Minister II, YB Senator Datuk Seri Amir Hamzah Azizan. A highlight of the meeting was a session with renowned primatologist Dr. Jane Goodall, who addressed the crucial link between financial systems and sustainability, urging stock exchanges to promote biodiversity and environmental responsibility.
Panel discussions tackled various critical topics, such as modernizing market infrastructure, the evolving functions of stock exchanges, the future of Initial Public Offerings, and the global transition to T+1 settlement. These discussions provided valuable perspectives on the changing dynamics of international capital markets.
SPX CEO Sheraj Obeyesekere engaged in fruitful meetings with other exchanges, focusing on cooperation, knowledge sharing, and exploring strategies to enhance Fiji’s stock market infrastructure. He emphasized that the event represented a vital opportunity for SPX to reconnect with the global stock exchange community, signaling the start of a new era for the Fijian market.
Obeyesekere highlighted that strengthening international relations and collaborating with industry leaders would be top priorities for SPX moving forward. In the upcoming months, the exchange plans to announce formal collaborations with WFE member exchanges as a direct outcome of its participation in the event.
The WFE plays a crucial role in fostering fair and transparent global markets, representing exchanges hosting over 55,000 listed companies with a combined market capitalization exceeding $111 trillion. The Federation collaborates with regulators and policymakers worldwide to ensure the stability and efficiency of financial systems. This year’s meeting also commemorated a significant return to Malaysia, which last hosted the event in 1998.
In conclusion, SPX’s involvement in this prominent event not only underscores its dedication to reinvigorating its global presence but also offers promising developments for the Fijian capital market. The exchange’s participation signals a proactive approach in building international relationships that could advance its infrastructure and contribute to sustainable financial practices. The future holds great potential as SPX seeks to implement the insights gained and establish partnerships that benefit not only Fiji but the broader region as well.
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