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The South Pacific Stock Exchange (SPX), formerly the Suva Stock Exchange, is currently the only licensed securities exchange in the Fiji Islands.

The SPX was established in 1979, a wholly owned subsidiary of the Fiji Development Bank. In 1993, the shareholding was broadened to enable the participation of other financial institutions in the development of the capital markets. Seven more shareholders joined the SPX, taking the total number of shareholders to eight.

Prior to the establishment of a call market sessions in 1996, the SPX operated a "trading post" where the activities were limited to only few orders. When a matching of opposite order was received, a trade took place. There was no physical or electronic trading Board. Dealings in shares by both sellers and buyers were handled by the Exchange as there were no brokers in Fiji.

Active trading on the SPX began when a call market was introduced on 1 July 1996. In the open outcry, licensed brokers respond with buy and sell orders during the trading sessions at specified times. The "market caller" calls out a listed company's name. The caller matches orders strictly according to price/time priority. Unmatched orders remaining at the end of a call market session are carried forward to the next call session. The transactions are paper-based and call sessions occur on a physical trading floor.

In November 2000, the Stock Exchange officially changed its name to the South Pacific Stock Exchange. The change is in line with the Exchange's vision of being a regional exchange.

Trading is now conducted on the Electronic Trading Platform (ETP).

SECURITIES TRADED

The following securities are currently traded on the SPX:

1. Listed entity shares
2. Government bonds
3. Statutory authority bonds
4. Government treasury bills
5. Statutory authority promissory notes
6. Reserve Bank of Fiji notes (issued for monetary policy purposes)
7. Tradable term deposits

There are currently no derivatives and futures markets in the Fiji Islands.
Market Statistics

 

Copyright 2019. South Pacific Stock Exchange Pte Limited 2019.

Shop 1 and 11, Sabrina Building, Victoria Parade, Suva.
Mailing Address: GPO Box 11689, Suva, Fiji | Phone: (679) 3304 130, (679) 3313 764 | Email: info@spx.com.fj