Companies & Markets

SGX to leverage tech, synergies across FX portfolios with MaxxTrader acquisition

Following the deal, the average daily volume of the combined foreign exchange franchise will be more than US$75 billion

Uma Devi

Published Sat, Jul 24, 2021 · 05:50 AM

SGX

Singapore

THE acquisition of single-source and direct-to-market foreign exchange (FX) trading platform MaxxTrader will further cement FX as a core pillar of growth for the Singapore Exchange (SGX) under its multi-asset strategy, and allow the bourse operator to achieve scale and size.

The latest acquisition will broaden SGX's customer base for both the buy-side and sell-side to over 200 institutional clients - including banks, hedge funds and broker-dealers - and will allow SGX to leverage MaxxTrader's technology to set up an "end-to-end" FX electronic communications network (ECN).