The London Stock Exchange (LSE) and the Singapore Stock Exchange (SGX) have signed an agreement for cross-trading of their largest and most actively traded stocks, expanding the international footprint of both the stock exchanges.
Under the agreement, LSE members will be able to trade the top 36 SGX-listed companies on LSE's newly-created 'International Board' while SGX members will be able to trade FTSE100 securities on SGX's GlobalQuote Board, an LSE statement said.
The partnership will extend the trading hours for the most actively traded securities in both markets combined, to around 15 hours per day, providing market participants more opportunities for investment, trading and risk management.
LSE Group CEO Xavier Rolet said, "As the world's most international stock exchange, we are committed to bringing global capital and investors to London, as well as raising the profile of companies listed on our markets.
This partnership between LSE and SGX will bring exciting opportunities for both FTSE 100 companies and our trading customers around the world."
For issuers in both markets, the initiative will offer a quotation on a new market without the need for a separate listing, giving access to a new investor audience and the opportunity to benefit from increased stock liquidity, the statement said.