Singapore Exchange (SGX) will expand its GlobalQuote footprint with the addition of 15 new American Depositary Receipts (ADRs) to its international quotation board on 29 December 2011.
In a statement on Friday, SGX said the move is part of its continuing efforts to expand the scope and coverage of GlobalQuote to offer more international investment opportunities for market participants.
All 15 new ADRs are of industry-leading companies with at least US$1-billion market capitalisation. They hail from across Asia, Europe and Australasia, expanding GlobalQuote’s geographic coverage to 11 countries across three continents.
SGX said all the ADRs on GlobalQuote are fully transferable with those listed in the US and allow investors to manage their exposure to these companies across both US and Asian market hours.
Nels Friets, Head of Securities at SGX, said: “By expanding our GlobalQuote footprint with these new ADRs, we enable investors to manage risk and trade across several time-zones with ease and cost efficiency. For the first time, investors will be able to manage exposures to these global companies during the Asian time zone, when increasingly relevant news (flows are) likely to occur for these companies with significant businesses in Asia.”
The new ADRs include: Makita Corp, Alumina Ltd, James Hardie Industries, Telco of NZ, Alcatel Lucent, Total SA, France Telecom, Veolia Environment, Vodafone Group, Diageo Plc, HSBC Holdings, Royal Dutch Shell Plc, Statoil, Syngenta, and Portugal Telecom.