PNGX Appointed As National Numbering Agency For PNG

PNGX announces that it has been approved by the international Association of National Numbering Agencies (“ANNA”) as the National Numbering Agency for Papua New Guinea.

As the National Numbering Agency, PNGX Markets Limited (“PNGX”) will be responsible for issuing the unique International Securities Identification Numbers (“ISINS”) for all PNG government and company securities, such as shares and Government Inscribed Stock.

The International Securities Identification Number (ISO 6166) is the recognized global standard for unique identification of financial instruments. ISINs are used to identify most types of financial instruments, include equity, debt and derivatives.

The allocation of an ISIN to the securities traded on the PNGX market improves the ability of international institutional investors to invest in PNG companies and government debt securities. It helps improve the ability of PNG companies to have access to international funds, which in turn, helps develop the PNG economy.

“We are pleased to bring this important function into PNG. For PNGX it is yet another step forward in our own redevelopment and part of our contribution to the development of PNG’s capital markets as a whole” said PNGX Chairman, David Lawrence.

PNGX acknowledges the support provided by the Bank of PNG for the application by PNGX to the ANNA.

Standardisation of securities identification in PNG has been an objective under the Government’s Financial Sector Development Strategy (FSDS). This will now assist a number of other objectives under the FSDS, including making investment in company and government securities more accessible to overseas investors.