SPX and PNGX Group Sign MOU to Explore Technology Sharing Opportunities and Strengthen Strategic Collaboration

SPX Chair, Nitin Gandhi (L) and PNGX Group Chairman, David Lawrence

Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) and Papua New Guinea’s PNGX Group Limited (“PNGX Group”) have reaffirmed the commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea and the wider South Pacific region by entering into a Memorandum of Understanding (“MOU”) to explore technology sharing opportunities.

The MOU sets the foundation for deepening cooperation to advance shared objectives, including developing and deploying innovative market infrastructure that supports the growth and sustainability of capital markets in the region. This renewed partnership builds on the MOU signed by SPX and PNGX Markets Limited in December 2019.

Strategic Areas of Cooperation

Under the MOU, SPX and PNGX Group will 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. 

This strategic partnership reflects a shared vision of creating robust, efficient, and inclusive capital markets that drive regional economic growth.

Both SPX and PNGX Group will retain their own commercial and local identities and operations.

Nitin Gandhi, SPX Chair, said: “This collaboration marks a pivotal step toward exploring integration and strengthening of capital markets in Fiji and Papua New Guinea. Together, we are committed to unlocking new opportunities and driving economic progress across the region.”

David Lawrence, PNGX Group Chairman, added: “Our enhanced partnership underscores a unified vision to provide resilient market infrastructure, foster the sustainability of both exchanges, and promote regional long-term investment. By supporting the development of regional capital markets, we aim to deliver meaningful opportunities for economic development.” 

ENDS

About South Pacific Stock Exchange 

The South Pacific Stock Exchange (SPX) is Fiji’s only securities exchange, licensed by the Reserve Bank of Fiji under the Companies Act 2015. It facilitates capital raising in the primary market and offers a fair, transparent platform for secondary market trading. The SPX has two wholly owned subsidiary companies; Central Share Registry Pte Limited (CSRL) and the SPX Trustees Limited (SPXT). FHL Stockbrokers Pte Limited (FHLS), Kontiki Stockbroking Pte Limited (KSB) and Fiji Stockbrokers Pte Limited (FSB) are the licensed stockbroker firms operating in the stock market in Fiji.

About PNGX Group Limited

PNGX Group is a diversifying business services company based in Port Moresby.  PNGX Markets, a wholly owned subsidiary of PNGX Group, is the operator of Papua New Guinea’s national stock exchange and is responsible for providing an orderly and fair market in relation to securities which are traded through its facilities and for acting in the public interest having regard to the need for protection of investors. PNGX Markets is regulated and licensed by the Papua New Guinea Securities Commission. PNGX Markets is also the approved National Numbering Agency for Papua New Guinea.

Contacts
David Lawrence
Chairman, PNGX Group
+61 4 1117 2697

Nitin Gandhi
Chairman, SPX
+679 9990894