SGX, HKEx to speak up for Asia

[SINGAPORE] The Singapore Exchange (SGX) and the Hong Kong Exchanges and Clearing (HKEx) have joined arms to speak with a louder voice to American and European regulators as they formulate and pass into law broad-reaching reforms in the global capital market.

"Especially with what is going on in Europe and the US, we as exchanges need to come together with an Asian voice to tell them what works, what doesn't, and what needs to be better in the years to come," said SGX chief executive Magnus Bocker.

Regulators in the US and Europe are pushing for more oversight of the derivatives market after largely unregulated swaps triggered the 2008 financial crisis.