Papua New Guinea’s PNGX Group Limited (“PNGX Group”) and Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) have together released a Request For Proposal (“RFP”) for an integrated Trading Platform and Central Securities Depository solution for the Pacific stock exchanges.
The release of the RFP follows PNGX and SPX entering into a Memorandum of Understanding (“MOU”) in January 2025 to explore technology sharing opportunities and reaffirming their commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea and the wider South Pacific region.
Under the MOU, SPX and PNGX Group agreed to explore:
- Technology infrastructure development including joint initiatives to create integrated platforms for trading, clearing, settlement, registration, and websites.
- Opportunities to operate the stock exchanges of Fiji and Papua New Guinea on shared technology platforms thereby capitalizing on synergies in operations to enhance efficiency, accessibility and the global appeal of the capital market in the South Pacific.
The focus of the RFP is the adoption of a single integrated, end-to-end trading platform and central securities depository solution from either a single provider or from a consortium of providers upon which both the PNGX and SPX markets can operate.
David Lawrence, PNGX Group Chairman 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.”
Sheraj Obeyesekere, SPX CEO, said "This initiative represents a forward-looking approach to capital market development in the Pacific. A unified technology platform has the potential to reshape how our markets operate and engage with investors, both locally and globally."
Suitably qualified potential system providers can request a copy of the RFP by contacting PNGX or SPX.