SGX buys remaining 80% of BidFX to bridge OTC and listed FX markets

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.

With global regulatory initiat…

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