SGX snaps up 20% stake in BidFX
Exchange invests $25m in TradingScreen spinoff, expects to boost liquidity by adding OTC to FX futures
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
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