The respective exchanges of Singapore and Shanghai have signed a memorandum of understanding (MoU) designed to capitalise on the growing interest in their ETF markets. The agreement will see the Singapore Exchange (SGX) and Shanghai Stock Exchange (SSE) jointly promote their ETF markets based on a master-feeder fund model. The newly-inked link follows the cross-listing of three ETFs in 2022 under the ETF Product Link between the SGX and SSE. Daily turnover for China equities ETFs grew by 50% in the first quarter of 2023, while the assets under management for China and Singapore equities ETFs in Singapore reached US$2.16 billion as of April 2023. “With the signing of the MoU, SSE and SGX Group will continue to promote cross-border cooperation between China and Singapore and develop more connectivity products investing in selected ETFs to meet the growing demand for cross-border opportunities between both markets,” said Cai Jianchun, president, SSE. © 2023 funds global asia