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Papua New Guinea’s PNGX Group Limited and Fiji’s South Pacific Stock Exchange Pte Limited (SPX) have together released a Request For Proposal (“RFP”) for an integrated Trading Platform and Central Securities Depository solution for the Pacific stock exchanges.
Suitably qualified potential system providers can request a copy of the RFP by contacting PNGX or SPX, the firms stated.
South Pacific Exchanges Want to Share Technology Platform
The move follows PNGX and SPX entering into a Memorandum of Understanding (“MOU”) in January 2025 to explore technology sharing opportunities and reaffirming their commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea, and the wider South Pacific region.
The MoU will see the two exchange firms exploring:
- Technology infrastructure development including joint initiatives to create integrated platforms for trading, clearing, settlement, registration, and websites.
- Opportunities to operate the stock exchanges of Fiji and Papua New Guinea on shared technology platforms thereby capitalizing on synergies in operations to enhance efficiency, accessibility and the global appeal of the capital market in the South Pacific.
- The focus of the RFP is the adoption of a single integrated, end-to-end trading platform and central securities depository solution from either a single provider or from a consortium of providers upon which both the PNGX and SPX markets can operate.
“A forward-looking approach to capital market development in the Pacific”
David Lawrence, PNGX Group Chairman said “PNGX and SPX are seeking to bring to reality the joint vision of the development of a regional capital market underpinned by proven, robust technology which is fit for purpose for our markets.”
Sheraj Obeyesekere, SPX CEO, said “This initiative represents a forward-looking approach to capital market development in the Pacific. A unified technology platform has the potential to reshape how our markets operate and engage with investors, both locally and globally.”
FNA Provides Stress-Testing Technology to Bank of Papua New Guinea
The Bank of Papua New Guinea (BPNG) recently tapped FNA’s simulation and stress-testing technology to monitor intraday liquidity and understand systemic risk. FNA is a UK-based leader in Supervisory Technology (SupTech) and Regulatory Technology (RegTech) that provides a SaaS Platform to map and monitor complex financial networks and to simulate operational and financial risks.
Network analytics enables central banks and financial institutions to understand how their financial networks function, making it invaluable when making both micro and macro policy decisions. Similarly, simulation provides a laboratory setting, wherein supervisors can analyze the probable effects of different scenarios, stresses and disruptions on the financial system.
The central bank’s newly formed Payment Oversight, Compliance & Monitoring Office will use FNA’s technology to gain a better understanding of liquidity and risk within its RTGS payment system. The payment system is part of the Kina Automated Transfer System (KATS), which includes four commercial banks across the region as participant members.
FNA’s software enables BPNG to run intraday liquidity simulations and stress tests so that the central bank can measure the impact of stress events on its member banks and payment system. The Payment Oversight, Compliance & Monitoring Office receives daily notifications on systemic risk level and additional alerts, should a bank encounter liquidity issues, allowing BPNG to effectively monitor and manage risk in real-time.
