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Singapore Exchange buys 20% stake in forex trading platform for US$25 million

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SINGAPORE: Singapore Exchange, which is positioning itself as a multi-asset bourse, has acquired a 20 per cent stake in an upstart foreign ...

SINGAPORE: Singapore Exchange, which is positioning itself as a multi-asset bourse, has acquired a 20 per cent stake in an upstart foreign exchange trading platform, BidFX, for US$25 million, with an option to take a majority interest in the company.

SGX's suite of equities, commodities and forex derivative products have helped power earnings growth, despite a subdued performance in its cash equities business.

 

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