As the National Numbering Agency, PNGX Markets Limited (PNGX) will be responsible for issuing the unique International Securities Identification Numbers (ISINS) for all PNG government and company securities, such as shares and Government Inscribed Stock.
The International Securities Identification Number (ISO 6166) is the recognised global standard for unique identification of financial instruments. ISINs are used to identify most types of financial instruments, including equity, debt and derivatives.
The allocation of an ISIN to the securities traded on the PNGX market improves the ability of international institutional investors to invest in PNG companies and government debt securities. It helps improve the ability of PNG companies to have access to international funds, which in turn, helps develop the PNG economy.
“We are pleased to bring this important function into PNG. For PNGX it is yet another step forward in our own redevelopment and part of our contribution to the development of PNG’s capital markets as a whole,” said PNGX Chairman, David Lawrence.
PNGX acknowledges the support provided by the Bank of PNG for the application by PNGX to the ANNA. Standardisation of securities identification in PNG has been an objective under the Government’s Financial Sector Development Strategy (FSDS). This will now assist a number of other objectives under the FSDS, including making investment in company and government securities more accessible to overseas investors.
About PNGX Markets Limited
PNGX Markets is the national stock exchange of Papua New Guinea. PNGX is responsible for providing an orderly and fair market in relation to securities which are traded through its facilities and for acting in the public interest, having regard to the need for protection of investors. PNGX is regulated and licensed by the Papua New Guinea Securities Commission. PNGX is the National Numbering Agency for Papua New Guinea.
(Port Moresby filepic)