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Singapore Exchange (SGXL.SI), Asia's second largest listed bourse operator, said on Tuesday it will allow trading of American Depositary Receipts (ADR) from Oct 22 in a bid to boost trading volumes.
SGX will start with the ADRs of 19 Chinese firms that are listed in the United States including internet firm Baidu (BIDU.O), Aluminum Corp of China (ALUMI.UL), China Mobile (0941.HK), Petrochina (0857.HK) and software firm Netease.
SGX will start with the ADRs of 19 Chinese firms that are listed in the United States including internet firm Baidu (BIDU.O), Aluminum Corp of China (ALUMI.UL), China Mobile (0941.HK), Petrochina (0857.HK) and software firm Netease.
Nine of the 19 firms are currently traded in the United States only while the other 10 also have listings on Hong Kong Exchanges and Clearing.
SGX said the launch of ADR trading marked the start of cooperation between the Singapore bourse and NASDAQ-OMX.
The ADRs traded on SGX are fungible in that investors can buy them in Singapore and sell in the United States and vice versa.
