Home Forex News Singapore Exchange to Own FX Trading Platform With $128M

Singapore Exchange to Own FX Trading Platform With $128M

The Singapore Exchange (SGX) made headlines over the stock market with their declaration of buying the stake of 80 percent, which does not belong to them on the BidFX platform of trading. On 29th June, Monday, they came forward with this venture, where they have decided to pay a massive amount of $128 million for capturing the profit gaining market of world trading. They believe that such a crucial decision would technically help in making their presence in the foreign exchange futures. Notably, they would also make the shares obtainable through an over-the-counter setting of the stock market.

From the prediction of the trading market, the potentiality of FX can be determined in the capability through which price discovery, transparency as well as liquidity will be the tools for the market participants to get benefited. This strategy would also help in regulating the benefits of both OTC and the futures trading that are listed over the market in a solo integrated setting.

Singapore is one of the major foreign exchange hubs, which is gaining popularity through the important activities of trading encouraged by development and instability in the currencies of G10 and Asia. To mark the chief growth of the recent quarter, BidFX Systems has made a record volume of trading. Behind this achievement, the involvement of the major clients like regional bankers, asset managers, as well as the prominent hedge funds, must be considered.

SGX’s chief strategy is to make an extensive range of assets available to investors worldwide. For the accomplishment of their venture, external borrowing will be used for financing the deal.

David Pender
David is a journalist interested in writing news-stories regarding forex. He has been in forex industry since 2014. he recently, joined our team as a news writer. He studied mass communication and has 7+ years of experience. He is an avid trader. He can be reached by email: david@forexnews.world.

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