SGX Group to introduce Global Listing Board in Landmark Partnership with Nasdaq
SGX Group and Nasdaq (NDAQ) announced a partnership to launch a Global Listing Board to simplify dual listings between the U.S. and Singapore.
The framework targets companies with a market capitalisation of S$2 billion and above, aims to go live around mid-2026, and proposes a single set of offering documents plus a streamlined review to reduce friction, cost and duplicate regulatory steps.
The initiative seeks regulatory finalisation and complements Singapore’s Equities Market Review Group measures and existing investor-support programs.
SGX Group e Nasdaq (NDAQ) hanno annunciato una partnership per lanciare un Global Listing Board per semplificare le dual listings tra Stati Uniti e Singapore.
Il quadro mira a aziende con una capitalizzazione di mercato di S$2 miliardi e oltre, è previsto che entri in funzione verso metà del 2026, e propone un set unico di documenti di offerta più una revisione snella per ridurre attriti, costi e duplicazioni di passaggi regolamentari.
L'iniziativa cerca una finalizzazione regolamentare e si integra alle misure del Gruppo di Revisione del Mercato delle Azioni di Singapore e ai programmi esistenti di sostegno agli investitori.
SGX Group y Nasdaq (NDAQ) anunciaron una asociación para lanzar un Global Listing Board para simplificar los listados duales entre Estados Unidos y Singapur.
El marco está dirigido a empresas con una capitalización de mercado de S$2 mil millones y más, tiene previsto entrar en funcionamiento a mediados de 2026, y propone un conjunto único de documentos de oferta y una revisión simplificada para reducir fricciones, costos y pasos regulatorios duplicados.
La iniciativa busca la finalización regulatoria y complementa las medidas del Grupo de Revisión del Mercado de Acciones de Singapur y los programas existentes de apoyo a los inversores.
SGX Group와 나스닥(NDAQ)은 미국과 싱가포르 간 이중 상장을 단순화하기 위한 글로벌 상장 보드를 시작하는 파트너십을 발표했다.
이 프레임워크는 시가 총액이 S$20억 이상인 기업을 대상으로 하며, 2026년 중반에 가동을 시작하는 것을 목표로 하고, 단일의 공모문서 세트와 간소화된 검토를 제안하여 마찰, 비용 및 중복 규제 절차를 줄인다.
이 이니셔티브는 규제 최종화를 모색하며 싱가포르의 주식시장 검토 그룹의 조치와 기존 투자자 지원 프로그램을 보완한다.
SGX Group et Nasdaq (NDAQ) ont annoncé un partenariat pour lancer un Global Listing Board afin de simplifier les listings croisés entre les États-Unis et Singapour.
Le cadre vise les entreprises ayant une capitalisation boursière d’au moins S$2 milliards, prévoit une mise en œuvre d’ici la milieu 2026 et propose un ensemble unique de documents d’offre ainsi qu’un examen rationalisé pour réduire les frictions, les coûts et les étapes réglementaires en double.
L’initiative cherche à obtenir la finalisation réglementaire et complète les mesures du Groupe d’examen du marché des actions de Singapour et les programmes existants de soutien aux investisseurs.
SGX Group und Nasdaq (NDAQ) kündigten eine Partnerschaft an, um ein Global Listing Board zu starten, um Doppelnotierungen zwischen den USA und Singapur zu vereinfachen.
Der Rahmen richtet sich an Unternehmen mit einer Marktkapitalisierung von S$2 Milliarden oder mehr, soll voraussichtlich Mitte 2026 in Betrieb gehen, und schlägt ein einheitliches Satz von Angebotsdokumenten sowie eine schlankere Prüfung vor, um Reibungen, Kosten und doppelte regulatorische Schritte zu reduzieren.
Die Initiative strebt regulatorische Finalisierung an und ergänzt die Maßnahmen der Equities Market Review Group Singapur sowie bestehende Investorensupport-Programme.
مجموعة SGX وناسداك (NDAQ) يعلنان عن شراكة لإطلاق لوحة الإدراج العالمية لتبسيط الإدراج المزدوج بين الولايات المتحدة وسنغافورة.
الإطار يستهدف الشركات التي تبلغ قيمتها السوقية 2 مليار دولار سنغافوري وما فوق، ويهدف إلى تشغيلها بحلول منتصف 2026، ويقترح مجموعة موحدة من وثائق العرض بالإضافة إلى مراجعة مبسطة لتقليل الاحتكاك والتكاليف وتكرار خطوات التنظيم.
تهدف المبادرة إلى إتمامها تنظيمياً وتكمل إجراءات مجموعة مراجعة سوق الأسهم في سنغافورة وبرامج دعم المستثمرين القائمة.
- Targets dual listings for companies ≥ S$2 billion market capitalisation
- Planned go-live around mid-2026
- Single set of offering documents to reduce listing friction and cost
- Explicit aim to harmonise prospectus disclosure comparable to U.S.
- Framework is subject to finalisation and relevant regulatory processes
- Eligibility threshold of S$2 billion excludes smaller issuers from board
Insights
Nasdaq and SGX plan a mid-2026 Global Listing Board to simplify dual listings for firms with a S$2 billion+ market cap.
The new framework creates a harmonised cross-border listing pathway by allowing a single set of offering documents and a simplified review process for companies meeting the
Outcome risks hinge on final regulatory approvals and precise implementation details; the framework is explicitly "subject to finalisation of implementation details and completion of relevant regulatory processes," so timelines or scope may shift. Watch for publication of the finalised prospectus disclosure requirements and the formal operational timeline ahead of
The proposal aims to align Singapore prospectus rules with U.S. standards to enable a single-document dual listing, pending regulatory finalisation.
By targeting comparable disclosure requirements, the framework intends to permit one set of offering documents for cross-listing and to streamline review steps. This design lowers legal and compliance complexity for eligible issuers and could improve fundraising efficiency between the two markets.
Key dependencies are the exact regulatory text and any conditions set by authorities; the announcement states the framework is "subject to finalisation" so stakeholders should monitor regulator releases and the detailed rule text before
- The two leading exchanges will create a new listing framework that bridges the U.S. and Singapore capital markets by enabling companies to raise capital, enhance visibility and access investors with ease
SINGAPORE and NEW YORK, Nov. 19, 2025 (GLOBE NEWSWIRE) -- SGX Group (Singapore Exchange) and Nasdaq, Inc. (Nasdaq: NDAQ) today announced a partnership to simplify dual listings in the United States and Singapore, enabling companies with a market capitalisation of S
Scheduled to go live around mid-2026, this Global Listing Board deepens collaboration between both markets, fostering a transparent and efficient environment for global capital formation. Companies will find it easier to pursue a dual listing on both Nasdaq and SGX, while reducing friction, complexity and cost. A key feature is the streamlining of regulatory obligations and fundraising across the Pacific Ocean, through a single set of documents and simplified review process.
New Era for Cross-Border Capital Raising
Institutional asset owners and managers in Singapore have expressed strong support for this platform as it provides issuers with a springboard into both the U.S. and Singapore markets. The combination of market liquidity and regulatory alignment will enable a new wave of growth companies – from innovative start-ups to established industry leaders – to expand efficiently into the world’s most important financial hubs. Companies at various stages of development can scale with agility and unlock new pools of growth capital, fostering a dynamic and virtuous cycle of innovation and growth.
The proposed Global Listing Board aligns with the broader efforts by the Singapore Government’s Equities Market Review Group to strengthen the attractiveness of Singapore’s stock market to investors and companies seeking to list and access growth capital. Various measures, such as those launched by the Review Group and the Anchor Fund @ 651, when taken together, will seek to provide support for promising high-growth companies in their fundraising efforts in Singapore’s public equities market, including on this Board.
The proposed regulatory framework will seek to establish a set of prospectus disclosure requirements in Singapore that are comparable to the U.S., to allow for the use of a single set of offering documents for the dual listing. The framework is subject to finalisation of implementation details and completion of relevant regulatory processes. More details will be released in due course, in time to facilitate the scheduled go-live of mid-2026.
A Welcome Move that Strengthens Ties Between U.S. and Singapore’s Capital Markets
Loh Boon Chye, Chief Executive Officer, SGX Group, said, “The whole-of-ecosystem support has been a key driver in turning this vision into reality. For issuers, the proposition is clear: access to U.S. market depth and Asian growth in a streamlined pathway. We hope to attract quality growth-oriented companies with an Asian nexus seeking to expand their investor base, while staying true to their roots, without having to navigate the complexity of dual regulatory regimes.”
Adena Friedman, Chair and CEO of Nasdaq, Inc., said, “Nasdaq and SGX Group have a long-standing partnership rooted in our shared belief in the power of markets to drive economic growth, build ecosystem of capital and create long-term value. In a world of increasing complexity and sometimes fragmenting markets, this initiative demonstrates that cooperation, smart regulation, and shared standards can create opportunity at scale that benefits both global and regional economies.”
Chee Hong Tat, Minister for National Development, Chair of the Equities Market Review Group, said, “The Review Group has identified connectivity with other markets as an important strategy. The dual listing bridge will bring together the strengths of two major market operators SGX and Nasdaq, and help anchor the listings of dynamic companies in Asia and attract liquidity around these listings.”
Rohit Sipahimalani, Chief Investment Officer, Temasek, said, “As a long-term global investor, we welcome efforts that deepen market connectivity and broaden access to capital. This initiative complements the work of our platforms — Seviora, 65 Equity Partners, Heliconia, and Vertex — in contributing to building the Singapore ecosystem, and enabling promising enterprises in the U.S. and Singapore to scale across markets. As the framework evolves, high standards of governance and disclosure will be essential to maintaining investor trust and facilitating access to global capital markets.”
About SGX Group (Singapore Exchange)
SGX Group seeks to serve as the world’s most trusted and efficient international marketplace, operating equity, fixed income, currency and commodity markets to the highest regulatory standards. As one ecosystem with global relevance and influence, we offer multiple growth avenues to our stakeholders through listing, trading, clearing, settlement, depository, data and index services. We are committed to lead on climate action by developing a world-class transition financing and trading hub through SGX FIRST (Future in Reshaping Sustainability Together), our multi-asset sustainability platform. Headquartered in AAA-rated Singapore, we are globally recognised for our risk-management and clearing capabilities. Find out more at www.sgxgroup.com.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
SGX Media Contact
Chin May Nah
Marketing & Communications
+65 8223 7358
maynah.chin@sgx.com
Nasdaq Media Contact
Emily Pan
+1 646 637 3964
emily.pan@nasdaq.com
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1 The Ministry of Trade and Industry and Temasek had established the S
FAQ
What did SGX and Nasdaq announce about cross-border listings on Nov 19, 2025?
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