FIJI’S South Pacific Stock Exchange (SPX) and Papua New Guinea’s PNGX Group Limited have released a Request for Proposal (RFP) for an integrated trading platform and central securities depository solution for their scrip trading.
Building upon a Memorandum of Understanding (MoU) they signed in January this year to explore technology sharing opportunities, the bourses said the focus of the RFP was the adoption of the integrated trading platform from either a single provider or from a consortium of providers upon which both the PNGX and SPX markets could operate.
“This initiative represents a forward-looking approach to capital market development in the Pacific,” SPX chief executive officer Sheraj Obeyesekere said.
He said a unified technology platform had the potential to reshape how the stock markets operate and engage with both local and global investors.
PNGX Group chairman David Lawrence said: “PNGX and SPX are seeking to bring to reality the joint vision of the development of a regional capital market underpinned by proven, robust technology which is fit for purpose for our markets.”
Potential system providers could request a copy of the RFP by contacting market_systems@pngx.com.pg.
Under the January MoU, SPX and PNGX had agreed to jointly explore technology infrastructure development, including joint initiatives to create integrated platforms for trading, clearing, settlement, registration and websites.
NOTE: This article was first published in the print edition of the Fiji Times dated MARCH 15, 2025.
