The South Pacific Stock Exchange (SPX) recently took part in the 63rd General Assembly and Annual Meeting of the World Federation of Exchanges (WFE), a prominent global association for exchanges and central clearing counterparties (CCPs). Held in Kuala Lumpur, Malaysia, the event attracted over 300 leaders from various sectors, including regulatory authorities and institutional representatives from more than 50 organizations worldwide.
This gathering was particularly significant for SPX as it aimed to re-establish its footprint in the global stock exchange landscape after several years of absence. Notably, this marked SPX’s first participation in the WFE Annual Meeting, where it was invited as a guest exchange—an exclusive opportunity typically reserved for WFE member exchanges.
Key moments from the assembly included an address from Malaysia’s Prime Minister, YAB Dato’ Seri Anwar Ibrahim, a discussion featuring the country’s Finance Minister II, YB Senator Datuk Seri Amir Hamzah Azizan, and a session led by eminent primatologist Dr. Jane Goodall, focusing on integrating markets and biodiversity in the context of sustainability.
A variety of discussions centered on crucial policy matters affecting the exchange industry, such as modernizing market infrastructures, the evolving role of stock exchanges, the future landscape of initial public offerings (IPOs), and the shift to T+1 trade settlement. These dialogues provided valuable insights into the changing dynamics of global capital markets.
SPX CEO Sheraj Obeyesekere took the opportunity to engage with representatives from various stock exchanges on collaboration and knowledge sharing perceived as essential for the development of Fiji’s stock market. He expressed that this occasion was ideal for SPX to assert its position within the international community, aspiring to stimulate growth in Fiji’s financial landscape.
“The SPX is honored to be part of this global congregation of capital market leaders, focusing on shaping the future of our sector and discussing essential policy frameworks to ensure exchanges continue to serve as vibrant engines of capital generation and financial inclusivity,” stated Obeyesekere.
He also underscored the importance of international cooperation in enhancing the standards of the Fijian stock market, promising formal collaborations with WFE member exchanges in the coming months as a direct outcome of their participation in this landmark event.
With WFE member exchanges collectively hosting over 55,000 listed companies, accounting for a market capitalization exceeding $111 trillion, the federation emphasizes the promotion of transparent, stable, and efficient markets worldwide in conjunction with policy authorities focused on safeguarding the global financial system.
This year’s event holding in Malaysia marks a momentous return, as it last hosted the assembly 26 years ago in 1998, showcasing a renewed commitment to fostering global financial dialogue and cooperation.
By positioning itself on this global stage, SPX shows promising signs of revitalization and development, which could lead to enhanced opportunities for Fiji’s economy and its financial sector in the near future.
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