Singapore Exchange (SGX) today successfully launched the trading of Asian Depositary Receipts on its new GlobalQuote board.
Turnover on GlobalQuote totaled US $17 million, of which ADRs accounted for US $10 million.
All 19 of the ADRs, which are from major Asian companies, traded today and 81% of SGX’s broking members participated in the trading. Spreads were largely in the 10 to 40 basis point range, in line with the broad SGX securities market.
Today’s ADR debut marks the start of cooperation between SGX and NASDAQ OMX to offer companies opportunities for listing on both exchanges.
SGX and NASDAQ OMX intend to add more ADRs from Asian-based companies to GlobalQuote, providing investors with an array of trading opportunities, including some which were previously unavailable during the Asian trading day.
Mr Chew Sutat, Head of Securities and Corporate & Market Strategy said, “We are heartened by investors’ interest in ADRs traded on GlobalQuote. Today’s launch is yet another milestone for SGX as we continue to roll out innovative products aimed at providing our customers with access to new trading opportunities.”
For information on prices, trading and details of the ADRs, please visit www.sgx.com