SINGAPORE, March 7 (Xinhua) -- Singapore Exchange (SGX) and New Zealand's Exchange (NZX) have signed a Memorandum of Understanding (MoU) to expand cooperation in Asia-Pacific markets, according to a press release on Wednesday.

In line with the MoU, NZX and SGX will promote market development initiatives across a range of areas, including the promotion of derivatives products, dual and secondary listings, exchange traded funds and investor participation.

The stock exchanges will also share relevant information as required and partner on green finance and sustainability initiatives.

SGX Chairman Kwa Chong Seng said they were pleased to work with NZX on areas of opportunities spanning both their securities and derivatives markets.

NZX Chairman James Miller said "as part of NZX's refreshed strategy we made a strategic decision to shift our focus away from the regional stock exchange model, instead focusing on creating strong partnerships with global exchanges who are committed to generating opportunities for investors and issuers in their respective markets."