Singapore/Hong Kong, 14 November 2019 – SGX has been awarded Exchange of the Year in the 2nd Regulation Asia Awards for Excellence 2019, after a rigorous selection process involving a judging panel made up of subject-matter experts and the Regulation Asia editorial team. The award was presented at a ceremony in Singapore on 13 November 2019.
SGX emerged as the winner for its targeted approach to market regulation, and for demonstrating a commitment to moving from an ‘ecosystem’ approach to a ‘community’ approach, in recognition of the shared purpose and common goals the exchange has with market participants and other stakeholders. A primary theme of SGX’s work for the year was to raise trust and integrity in its markets, demonstrated through its work to increase accountability across all capital market stakeholders – lawyers, auditors, valuers, brokers, listed companies and directors.
Of particular note for the judges was SGX’s willingness to partner with the industry to raise standards across the board. Some of its notable initiatives included its work with ABS (the Association of Banks in Singapore) to raise IPO due diligence standards at investment banks, partnerships with property and business valuation experts to raise standards for valuing listed companies’ assets, and its work with members of the investment community to fight market misconduct.
“SGX demonstrated real leadership” by introducing mandatory sustainability reporting for listed companies in 2016, one judge noted. In the past year, SGX has been “working overtime” to help the industry adapt to the new requirements, he added, referring to the briefings, workshops, and specific guidance on sustainability reporting that have been produced.
Brad Maclean, Co-founder and Executive Chairman, Regulation Asia said: “SGX’s dedication to continuous improvement in market regulation, transparency and standards-setting have set it apart from its global peers. Its innovative approach to raising trust and integrity in markets is proactive and grounded in the pursuit of global best practice.”
SGX also won Exchange of the Year in the 2018 Regulation Asia Awards for demonstrating its focus on ensuring a fair, orderly and transparent marketplace, and a commitment to pursuing meaningful regulation with the establishment of SGX RegCo.
About the Regulation Asia Awards for Excellence 2019
Regulation Asia Awards for Excellence recognises technology companies, legal and consulting firms, and exchanges that have shaped the regulatory landscape in Asia Pacific, as well as outstanding technology projects both in mature and emerging markets by large tech firms and innovative startups that help meet the requirements of a specific regulatory change infrastructure.
For a full list of award winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. Since 2013, our audience and subscription base have grown to include regulatory bodies, exchanges, banks, asset managers and service providers, allowing us to play a key role in the regulatory agenda.
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