Under an agreement between the AMEX and SGX to promote the pan-Asian listing and trading of ETFs, a new Singaporean company owned equally by both exchanges has been created.
The same ETFs will trade in both Singapore and the US and an investor can buy or sell ETFs on both exchanges while the funds will be commonly settled in US dollars.
This initiative is the first step in the creation of a global trading platform that will be extended to include other regions such as Latin America and Europe.
The following Amex-listed ETFs began trading in Singapore:
- S&P 500 SPDRs
- DJIA DIAMONDS
- iShares MSCI Singapore Index Fund
- iShares Dow Jones U.S. Technology Sector Index Fund
- iShares S&P 500 Index Fund.