Singapore Exchange to acquire currency trading platform for $125m
FILE PHOTO: An SGX sign is pictured at Singapore Stock Exchange July 19, 2017. REUTERS/Edgar Su
July 23, 2021
Singapore Exchange Ltd (SGX) said on Friday it would buy currency trading platform MaxxTrader for $125 million as the bourse operator expands its currency offerings.
With the acquisition, SGX hopes to create a currency platform that will be Asia’s largest venue for international foreign exchange (FX) over-the-counter (OTC) and futures participants, the company said in a statement.
Founded in 2008, MaxxTrader has more than 100 banks, broker-dealers and hedge funds connected to its platform, with an average daily volume of $17 billion as of June-end, SGX said.
Deals of the day-Mergers and acquisitions
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Published July 8, 2021, 8:00 AM
Emperador Inc., the Philippines’ biggest liquor company, is exploring a second listing in Singapore that could raise as much as S$1 billion ($742 million), people with knowledge of the matter said.
The Manila-listed company is working with advisers on the potential offering, said the people, who asked not to be identified as the process is private. A listing in the city-state could take place as soon as the end of this year, the people said.
Emperador could be joining companies like Malaysia’s Top Glove Corp., Hongkong Land Holdings Ltd. and Japanese real estate firm Tosei Corp. in having a second listing in Singapore. Any deal would give a boost to the first-time share sales in the city-state, which hosted only three deals totaling $242 million so far this year, according to data compiled by Bloomberg. Second listings accounted for about 27% of total market capitalization in the country’s bourse in May, Singapore Exchange Ltd. data show.