Singapore Exchange (SGX) and Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding to establish an exchange-traded fund (ETF) link, according to an SGX statement.
Under the agreement, SGX and SZSE will develop and promote the ETF markets in Singapore and China through the listing of feeder ETFs, which link locally listed funds to those on the other exchange. This allows domestic ETF issuers to tap cross-border capital flows, and investors to access overseas-listed funds via domestic exchanges, SGX said.
Singapore-listed ETFs exceeded $12 billion in assets by end-November, up close to 50% from a year earlier, it said.
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