SGX buys 20% stake in BidFX to reinforce FX pillar
US$25m stake in nascent specialised FX trading platform part of SGX's key growth strategies
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Angela Tan
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Singapore
SINGAPORE Exchange (SGX) on Wednesday said it has bought a 20 per cent stake in BidFX, a nascent specialised foreign exchange (FX) trading platform, for US$25 million in cash, to boost its FX growth trajectory.
The purchase, which comes with an option for the Singapore bourse to buy a controlling interest, is part of SGX's strategy to build core pillars of growth across multiple asset classes beyond traditional equities and fixed income, and to enhance its service offerings to market participants.
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