Outlook for this year

The SPX released its 2022 Stock Market Review recently. Picture: SUPPLIED

The focus for South Pacific Stock Exchange (SPX) in this New Year is to increase the number of entities listed on the equity market and build on the success of the inaugural Wholesale Corporate Bond listing in 2022, to name a few.

SPX acting chief executive officer Pretesh Prasad said their focus would also include attracting additional issuers to our debt market, increase liquidity and trading activities, enhance investor awareness, entice active investor participation and attract new investors as well as explore avenues to increase the multiplicity of investible products offered through the SPX platform.

Mr Prasad said those initiatives would increase the public’s participation in economic activity and the benefits of that activity, while also facilitating more efficient access to necessary capital for companies.

In its 2022 Stock Market Review, Mr Prasad the SPX had rolled out its new three-year strategic plan covering the 2023-2025 financial year which carved a new era of development and future for the SPX group.

“A key focus under this strategy is to explore and commence with the necessary work required towards the implementation of a Delivery vs Payment mechanism to benchmark with the post-trade infrastructure and facilities of other jurisdictions as well as to mitigate the settlement risk and strengthen the overall credibility and integrity of the market,” he said.

The SPX also intends to focus on strengthening compliance which will ensure the SPX is recognised as an efficient, orderly and transparent market place whilst offering an attractive alternative for companies to raise capital. “Our intention is to position the SPX to be a better barometer of the Fijian economy.

“Necessary focus will also be placed on optimising digital transformation to drive efficiency and improve services which would involve embedding the use of technology across the business to drive the fundamental changes to increase efficiency, achieve greater business agility, and ultimately unlocking value for employees, listed entities, stockbrokers and other stakeholders.”

Mr Prasad said they recognised the importance of aligning their operations with the expectations of the key stakeholders to create sustainable value and development of a more robust and a vibrant capital market in Fiji.

More Stories