SGX buys stake in BidFX to expand forex pillar

SINGAPORE Exchange has acquired a 20 per cent stake in BidFX, including an option for additional shares to gain a controlling interest, for US$25 million in cash.

Loh Boon Chye, CEO of SGX told a media briefing on Wednesday that the investment is part of the Singapore bourse’s strategy to build core pillars of growth across multiple asset classes. “FX is one of our key growth pillars and we are excited to strengthen our service proposition to the market,” Mr Loh said.

“With this investment, we have an opportunity to offer our suite of Asian FX futures alongside the over the counter products offered on the BidFX platform, bringing together both pools of liquidity,” he added.In January 2017, BidFX was spun off as a division of TradingScreen , a provider of a multi-asset execution and order management system.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pine Capital seeks trading suspension amid allegations of lapses, conflict of interestCATALIST-LISTED investment firm Pine Capital Group's board has recommended that the trading of the company's shares be suspended with immediate effect, in a Singapore Exchange (SGX) filing on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »