Singapore may soon get a third derivatives exchange
It will be backed by China.
Singapore may soon see a third derivatives exchange opposing Intercontinental Exchange Inc. and Singapore Exchange Ltd.
A report from Bloomberg noted that if the new derivatives exchange called APEX goes ahead, it would be operated by Asia Investment Pte. A Chinese-backed offshore exchange would dovetail with Beijing’s drive to raise the country’s status in global financial markets and bolster the presence of its companies around the world. A mainland firm is seeking to buy the Chicago Stock Exchange, whilst the Shanghai Stock Exchange is reportedly close to acquiring a stake in Pakistan’s national bourse.
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