SGX buys remaining 80% of BidFX to bridge OTC and listed FX markets
The US$128m purchase will expand SGX's reach beyond FX futures into the larger global FX OTC market
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Singapore
SINGAPORE Exchange (SGX) will buy the remaining 80 per cent stake in BidFX it does not already own from other shareholders for about US$128 million cash, in a move that will expand its reach beyond foreign exchange (FX) futures into the larger global FX over-the-counter (OTC) market.
The transaction, which is expected to complete in July, marks a major step in bridging the listed and OTC markets in FX.
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