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 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.

Must Read

Coinbase App vs. Coinbase Wallet App – A Comparative Study

Coinbase is one of the leading cryptocurrency exchanges globally and is a decentralized exchange platform for Bitcoin and various other top cryptocurrencies. Some has...

Litecoin Mining: Know About How to Guide

Introduction: How to mine Litecoin Litecoin (LTC) is one of the earliest digital currencies designed by former Google engineer Charlie Lee in October 2011. Litecoin...

Understanding Crypto Trading: A Guide for Newbies

With 24 hours trading volumes that average around $50 billion or even more and cross over $100 billion, the cryptocurrency market has grown significantly...

Views of Chamath Palihapitiya on Bitcoin

A lot of factors drive the world of cryptocurrency and blockchain technology, and one of the most sophisticated factors that we are going to...

Everything You Need to Know About Forex Scams

Foreign trading or forex trading is the trading of different foreign currencies listed in a pair known as forex pairs. The parties involved in...