The Singapore Exchange (SGX Group) and the Stock Exchange of Thailand (SET) on Tuesday (May 30) kicked off their collaboration with the launch of Singapore depository receipts (SDRs) under the Thailand-Singapore DR Linkage.

The product launch marks the first exchange-level DR cooperation in the Asean region, demonstrating an important step forward in enhancing regional connectivity, SGX Group says.

The SDRs, which trade on the SGX securities market during local trading hours and in Singapore dollars, provide Singapore investors with more efficient access to regional markets.

The inaugural SDRs, issued by Phillip Securities, represent beneficial ownership interest in the underlying securities of Airports of Thailand, CP All, and PTT Exploration & Production. The three stocks are constituents of the benchmark SET50 Index. The DR linkage will also see Singapore-listed securities trading on the Thai bourse.

Pakorn Peetathawatchai (left), president of the Stock Exchange of Thailand, and Loh Boon Chye, chief executive officer of SGX Group, launch the SDRs.