SpaceX, Grab, Sea to Trade on Singapore Exchange Through SDRs

SpaceX, Grab and Sea are set to start trading on the Singapore Exchange via the issuance of Singapore Depository Receipts on Wednesday.

SGX said in a statement that the new additions will "provide direct access to innovative themes" in Singapore's local currency.

"The U.S. SDRs enable investors to manage and trade these global companies seamlessly in [Singapore dollars], eliminating foreign-currency conversion friction, while enabling trading during Singapore market hours," SGX said.

The move comes as investor activity in SDRs continues to build, the exchange operator said. Average daily turnover has risen strongly, driven by record-high retail participation, it said.