Paris and Singapore bourses sign cross-exchange rights

Paris and Singapore bourses sign cross-exchange rights

SINGAPORE (DPA): The newly-formed Singapore Exchange and its
Paris counterpart sealed a pact enabling members to secure
membership in each other's stock exchanges so they can trade in
all electronically listed products on both markets, it was
reported on Friday.

The new agreement followed Wednesday's launch of SGX in
Singapore, the Asia-Pacific region's first integrated
demutualized securities and derivatives exchange accompanied by
new market-opening measures.

SGX was formed from the merger of the Stock Exchange of
Singapore and Simex.

Under a memorandum of understanding signed between French and
Singapore financial regulatory authorities, The Straits Times
said both sides agreed to provide mutual assistance and exchange
information necessary for investigations into offenses or
fraudulent practices.

Both SGX and the Paris bourse are members of the Globex
Alliance, a worldwide network of derivatives markets which also
includes the Chicago Mercantile Exchange, the Montreal Exchange
and Brazil's Bolsa de Mercadorias and Futuros.

SGX president Ang Swee Tian said the agreement would provide a
"broader range of international products to trade and offer
customers."

The extension of similar cross-exchange rights to all Globex
Alliance exchanges would widen their global reach and deepen
market liquidity, he said.

The Paris bourse, continental Europe's largest stock market,
can offer companies from outside the euro zone the best point of
access to all European investors, said Marc Vienot, president of
Paris Europlace, an association representing French financial
markets.

The banding together of the bourse with seven other European
stock markets by next November to offer similar trading hours and
a common market model means Paris can also offer a single access
to all these markets, Vienot said.

The Paris bourse has been operating as Europe's second
integrated exchange after Frankfurt since May.