Chinese-backed APX eyes getting MAS' nod

It will start a third derivatives exchange in Singapore.

Bloomberg Markets reported that Asia Pacific Exchange Pte, has received in-principle approval from the Monetary Authority of Singapore to start a third derivatives exchange in the city.

Apex is now working on getting final approval from the city’s regulator, according to the people, who asked not be identified because the information is confidential. The company, which has about 40 staff, plans to open its exchange with refined palm oil contracts, the people said. The commodity will be priced in dollars and physical delivery will be in Malaysia and Indonesia.

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