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The Singapore Exchange Limited (SGX) and Karachi Stock Exchange (KSE) on Wednesday signed a memorandum of understanding (MoU) to collaborate for the benefit of the financial services industries in Singapore and Pakistan. According to a press release, the MoU aims at fostering a closer relationship between both exchanges.
This includes sharing best practices regarding each exchange's products as well as the operation and governance of their respective markets. Hsieh Fu Hua, Chief Executive Officer SGX said on the occasion that the MoU fosters a closer relationship between the two exchanges. "We look forward to working with KSE to help develop our respective financial markets," he added.
Adnan Afridi, MD, KSE said that the collaborations amongst exchanges have become increasingly important in the development of the emerging capital markets. A lot can be learnt from SGX on the demutualisation front as KSE is currently in the process of demutualisation, he added. --PR

Copyright Business Recorder, 2008

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