Canberra, Nov 19:
Asia Pacific Stock Exchange (APX) has been renamed Sydney Stock Exchange Limited, announced the Australian bourse on Thursday.
Sydney Stock Exchange deputy chairman and AIMS Financial Group CEO George Wang said the change is driven by the company’s customers and stakeholders and is consistent with its philosophy and core mission to promote Sydney and Australia as an integral part of Asia and a leading financial centre, Xinhua news agency reported.
“We aim to build the Sydney Stock Exchange as a bridge between Australia and Asia’s capital markets, corporates and investors,” Wang said.
Wang said customers and stakeholders wanted to be identified as being listed on an exchange of a major financial city. Changing the name to Sydney Stock Exchange provides that association.
The name is easily recognisable and resonates across the region.
“Most major exchanges are associated with the big financial centres — London, New York, Hong Kong, Shanghai, for example. The new name reflects both the role of Sydney as a major financial centre in Australia and the Asia Pacific region and the geographic home of the exchange.”
Sydney Stock Exchange will be a member of Asia Pacific Exchange Group (APX Group), as well as Asia Pacific Finance Institute of Australia and the Asia Pacific Equity Exchange.
The APX Group is a fully owned subsidiary of AIMS Financial Group.
Asia Pacific Exchange, previously known as Australian Pacific Exchange, was acquired by Chinese Australian George Wang’s AIMS Financial Group, a diversified financial services and investment group, after the collapse of the Austock Group in 2008.
It was relaunched in 2014. (IANS)