PNGX recognised as PNG’s numbering agency

Business

PNGX Markets Ltd (PNGX) has been approved by the international Association of National Numbering Agencies (ANNA) as the national numbering agency for Papua New Guinea.
As the National Numbering Agency, PNGX will be responsible for issuing the unique International Securities Identification Numbers (ISINs) for all government and company securities, such as shares and Government Inscribed Stock.
According to a statement from PNGX, 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, include 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 local 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,” PNGX chairman David Lawrence said.
PNGX acknowledges the support provided by the Bank of PNG for the application by PNGX to the ANNA.
The standardisation of securities identification in the country 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 marketing investment in company and government securities more accessible to overseas investors.
PNGX is the national stock exchange of PNG.
It 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 investor protection.
PNGX is regulated and licensed by the PNG Securities Commission.

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