SGX partnership on dairy derivatives to unlock growth

NZX and SGX seal partnership on dairy derivatives to unlock growth

8 April 2021 - New Zealand’s Exchange (NZX) and Singapore Exchange (SGX) have today signed a
strategic partnership agreement to unlock and accelerate the growth potential of NZX’s dairy derivatives.

This partnership brings together the complementary capabilities of the NZX and SGX to scale up market
distribution and liquidity in the global dairy derivatives markets.

It will take effect in the second half of 2021, subject to regulatory approvals. This follows a Heads of
Agreement that was mutually signed in October 2020 to explore the listing of NZX’s suite of dairy
contracts on SGX’s trading and clearing platforms.

NZX Chief Executive, Mark Peterson, said NZX will continue to provide dairy product development
expertise, market research and product support for new developments and enhancements. NZX will also
continue to lead engagements with the dairy industry.

“We see huge opportunity through this partnership to unlock potential and propel the future growth of our
dairy derivatives suite. By working together, we can leverage SGX’s global market connectivity, strong
Asian presence and international distribution, to scale growth and liquidity in the trading of dairy
derivatives.”

Loh Boon Chye, Chief Executive Officer of SGX, said: “This partnership combines the strengths of SGX
and NZX and we are very excited to see it coming to fruition.

“With Asia representing the world’s largest bloc of dairy consumers and producers, this partnership brings
a world-class suite of dairy derivatives benchmarks and risk management tools to dairy participants and
investors in Asia and beyond. We look forward to continue working with NZX to grow the dairy derivatives
market and benefit the wider industry.”

As part of the new partnership, NZX intends to delist its suite of dairy derivatives contracts from the NZX
Derivatives Market and equivalent contracts will be relisted on SGX. Market participants can expect
augmented access via new trading and clearing channels.

ENDS

For further information, please contact:

NZX
David Glendining, Head of Communications
T +64 27 301 9248
david.glendining@nzx.com

SGX
Chin May Nah, Head of Media Communications
T +65 8223 7358
maynah.chin@sgx.com

About NZX
For more than 150 years we have been creating opportunities for Kiwis to grow their personal wealth and
helping businesses prosper. As New Zealand’s Exchange, we are proud of our record in supporting the
growth and global ambitions of local companies.

NZX operates New Zealand's equity, debt, funds, derivatives and energy markets. To support the growth
of our markets, we provide trading, clearing, settlement, depository and data services for our customers.
We also own Smartshares, New Zealand's only issuer of listed Exchange Traded Funds (ETFs), and
KiwiSaver provider SuperLife. NZX Wealth Technologies is a 100%-owned subsidiary delivering rich
online platform functionality to enable New Zealand investment advisors and providers to efficiently
manage, trade and administer their client's assets. Learn more about us at: www.nzx.com
About SGX:
Singapore Exchange (SGX) is Asia’s leading and trusted market infrastructure, operating equity, fixed
income and derivatives markets to the highest regulatory standards. As Asia’s most international, multi-
asset exchange, SGX provides listing, trading, clearing, settlement, depository and data services, with
about 40% of listed companies and over 80% of listed bonds originating outside of Singapore. SGX is the
world’s most liquid international market for the benchmark equity indices of China, India, Japan and
ASEAN and offers commodities and currency derivatives products. Headquartered in AAArated
Singapore, SGX is globally recognised for its risk management and clearing capabilities. For more
information, please visit www.sgx.com.