SINGAPORE (May 5): Asia-based financial services conglomerate AMTD International and Singapore Exchange (SGX) have entered into a long-term strategic partnership on Tuesday to promote the development of Singapore’s capital markets and strengthen connectivity between Singapore, ASEAN, the Greater Bay Area, the rest of China and the Middle East.
The partnership will leverage on AMTD’s multi-dimensional, cross-sector SpiderNet eco-system, as well as SGX’s strong regional connections, to further empower and enable both organisations’ clients and partners in their capital raising activities.
See also: Hong Kong's AMTD eyes Singapore digital bank licence, to include Asean in its 'spider web'
AMTD and SGX will also jointly explore the possibility of using distributed ledger technology for the issuance and servicing of fixed income securities in Singapore. Both companies will also expand their use of blockchain technology in capital markets, international payments and settlements, and trade finance.
SGX will also be supporting AMTD’s other initiatives to help corporates make use of relevant data, and providing information and insights to support the next generation of investment bankers and connect Abu Dhabi with Singapore and other global capital markets.
In the same regulatory filing on Tuesday, AMTD’s parent company AMTD Group announced its partnership with the Singapore FinTech Association (SFA) to establish an AMTD Global FinTech Fellowship Programme in Singapore. The programme will connect local entrepreneurs with Singapore’s capital markets and strengthen their long-term competitiveness.
See also: Digital banking license aspirant AMTD is first dual-class share listing here
Sopnendu Mohanty, Chief FinTech Officer of the Monetary Authority of Singapore (MAS) welcomes the initiative. “A fellowship programme that provides global connectivity for our local FinTech talents as well as enhances their career development by allowing direct sharing of experiences and know-how by industry leaders and experts is a crucial survival kit in today’s environment,” he said.
“SGX is excited to partner with AMTD for the benefit of our clients, potential clients and partners. It is clear from AMTD’s listing in Singapore last month, as well as today’s collaboration, that AMTD puts Singapore at the heart of its global strategy,” says Chew Sutat, SGX’s Senior Managing Director and Head of Global Sales and Origination.
“We are pleased to become one of SGX’s long-term strategic partners. With the support of MAS and the various industry associations, we will propel the development of Singapore’s capital markets and empower the connectivity between local FinTech entrepreneurs and the local capital markets and beyond,” says Calvin Choi, chairman and CEO of AMTD group.
AMTD shares closed 9 cents lower, or 0.6% down, at $16 on Monday.
SGX shares closed 13 cents lower, or 1.3% down, at $9.52 on Monday.
Both closed prior to the announcement.
