The move will expand SGX’s reach beyond forex futures into the global forex over-the-counter (OTC) market.
SINGAPORE (June 29): Singapore Exchange (SGX) will acquire the remaining 80% in cloud-based forex trading platform BidFX from its other shareholders for a total cash consideration of US$128 million ($178.3 million).
Since BidFX’s establishment in January 2017, average daily volumes have grown at a compounded annual growth rate (CAGR) of 57% to US$31 billion in May 2020.
