SGX snaps up 20% stake in BidFX

Exchange invests $25m in TradingScreen spinoff, expects to boost liquidity by adding OTC to FX futures

TradingScreen CEO Pierre Schroeder, SGX CEO Loh Boon Chye and BidFX CEO Jean-Philippe Malé
Deal announced: TradingScreen CEO Pierre Schroeder, SGX CEO Loh Boon Chye and BidFX CEO Jean-Philippe Malé
SGX

Singapore Exchange has bought a 20% stake in trading platform BidFX for $25 million, in a move aimed at widening its range of foreign exchange services.

As part of the deal, SGX will gain the option to take a majority stake in BidFX. The company, a spinoff division of TradingScreen, provides cloud-based trading and workflow technology for execution management, and a suite of negotiation tools and algorithms offered by major banks.

As Asia’s biggest provider of listed FX trading, SGX has

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: