Private exchanges augment public markets, make financial ecosystem more complete: HGX chairman

Singapore

ASIA's private securities exchanges are still in an early phase of development compared to their peers in the United States, said Richard Teng. The newly appointed chairman of HG Exchange believes private exchanges will play a complementary role to their public counterparts instead of replacing them.

Mr Teng, a veteran in Singapore's finance industry who is now based in Abu Dhabi, was sharing his views on private securities exchanges with The Business Times over the phone on Monday. He said private capital markets are steadily gaining momentum in deal volumes as more companies delay their initial public offerings or go private.