CEFC founder's arrest 'unlikely to affect Singapore's third derivatives exchange'
But news of detention sends shares of three CEFC-linked companies plunging in HK, Shenzhen and Singapore
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Angela Tan
Singapore
CHINESE President Xi Jinping's shock detention of oil baron Ye Jianming is unlikely to derail plans to launch Singapore's third derivatives exchange, which is backed by CEFC China Energy, the company he founded.
Early this week, Chinese-backed Asia Pacific Exchange (Apex) said it had obtained the green light from the Monetary Authority of Singapore (MAS) to operate the city-state's third derivatives exchange and a clearing house after the Singapore Exchange and Intercontinental Exchange (ICE).
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