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.
Source: News Formal (newsformal.com)
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