SGX and Nasdaq Announce Landmark Global Listing Board for Dual Listings
SGX and Nasdaq Launch Global Listing Board: A Game-Changer for Cross-Border Capital Markets
Date: 19 November 2025
Location: Singapore / New York
Key Highlights
- Landmark Partnership: Singapore Exchange (SGX Group) and Nasdaq, Inc. have announced a major partnership to launch a new Global Listing Board, streamlining dual listings for companies on both the U.S. and Singapore stock exchanges.
- Harmonised Cross-Border Listing Framework: This initiative will allow companies with a market capitalisation of S\$2 billion and above to access global capital, investors, and liquidity with ease, through a unified listing process.
- Launch Timeline: The Global Listing Board is scheduled to go live in mid-2026.
- Simplified Process: A single set of offering documents and a simplified review process will dramatically reduce the regulatory burden and costs typically associated with dual listings.
- Regulatory Alignment: Singapore will establish prospectus disclosure requirements comparable to U.S. standards, facilitating the use of the same documentation for both SGX and Nasdaq listings.
- Support from Singapore Government: The initiative is aligned with broader government efforts, including the Equities Market Review Group and the S\$1.5 billion Anchor Fund @ 65, to strengthen the attractiveness of Singapore’s stock market and support high-growth enterprises.
Details Investors Need to Know
- Potential Market Impact: The partnership is expected to foster a transparent and efficient environment for global capital formation, making it easier for innovative start-ups and established industry leaders to scale and raise capital in both the U.S. and Asia.
- Institutional Support: Institutional asset owners and managers in Singapore have expressed strong support for the platform, which is expected to unlock new pools of growth capital and attract a new wave of high-growth companies.
- Price-Sensitive Implications:
- This move could significantly boost SGX’s and Nasdaq’s appeal as listing venues, potentially increasing trading volumes, liquidity, and overall market valuations for both exchanges.
- The streamlined regulatory process and cost efficiencies may attract more dual listings, particularly from Asian companies with global ambitions, enhancing the exchanges’ competitive positioning.
- Shareholders should note the initiative’s potential to draw investment flows, improve market connectivity, and reinforce both exchanges’ relevance in a fast-evolving global capital market landscape.
- Government and Institutional Backing:
- The Singapore Government’s Anchor Fund @ 65, a S\$1.5 billion initiative launched by the Ministry of Trade and Industry and Temasek, aims to support promising high-growth enterprises in their public fundraising efforts, further reinforcing the ecosystem for growth companies.
- Key stakeholders, including Chee Hong Tat (Singapore’s Minister for National Development and Chair of the Equities Market Review Group) and Rohit Sipahimalani (Chief Investment Officer, Temasek), have publicly endorsed the partnership, highlighting the importance of market connectivity and high governance standards.
- Implementation and Next Steps:
- The framework is subject to finalisation and regulatory approval, with more details to be released closer to the mid-2026 launch.
- The initiative is expected to attract high-quality, growth-oriented companies with an Asian nexus, offering them efficient access to both U.S. and Asian investors without the usual complexities of dual regulatory regimes.
- High standards of governance and disclosure will be maintained to ensure investor trust and facilitate access to global capital markets.
Strategic Significance
The Global Listing Board is a transformative development for both SGX Group and Nasdaq. For SGX, it bolsters its status as a preferred listing venue for Asian growth companies seeking international investor exposure, while Nasdaq benefits from increased connectivity to the fast-growing Asian markets. Both exchanges stand to gain from greater trading activity, enhanced liquidity, and increased global relevance. This partnership directly addresses long-standing market fragmentation issues and could set a precedent for future cross-border collaboration in capital markets.
About the Exchanges
SGX Group operates equity, fixed income, currency, and commodity markets and is committed to the highest regulatory standards. It aims to lead in climate action through its multi-asset sustainability platform and is globally recognised for risk management and clearing capabilities.
Nasdaq is a global technology and exchange operator serving a wide range of financial market participants, providing solutions that enhance liquidity, transparency, and integrity across global capital markets.
Contact Information
Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should conduct their own research or consult financial advisors before making investment decisions. The author and publisher are not responsible for any losses arising from reliance on this information.
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