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New owners plan major overhaul of SMX

ICE will put in place new board and new management, switch to own technology

Published Tue, Dec 17, 2013 · 10:00 PM
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[SINGAPORE] The new owners of the Singapore Mercantile Exchange (SMX) are planning a major overhaul of the once struggling exchange.

US-based IntercontinentalExchange (ICE) intends to put in place a new board of directors, new management, and also switch from using technology by SMX's owner and parent company, Financial Technologies, to ICE's technology, ICE vice president of Asia-Pacific, Jennifer Ilkiw, told The Business Times.

"So this will be an ICE exchange," she added.

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