BidFX

Phillip says the expenses guidance is an 8.6% increase from FY2021 at the mid-point.

SGX says the scrip dividend will allow shareholders to participate in the company’s medium term growth journey.

Phillip Securities has downgraded the stock to a “neutral” rating from “accumulate” previously.

In June 2020, SGX acquired the remaining 80% interest in BidFX for a total cash consideration of US$128 million ($178.3 million).

The bourse operator was a beneficiary of the volatility observed in financial markets last year.

SGX has reaped the fruit of its recent acquisitions and migration to FTSE for some of its derivative products.

Quoteworthy: "Donald learned long ago how to pick his targets." — Mary Trump, niece of the US president, in her upcoming tell-all family memoir, “Too Much and Never Enough: How My Family Created the World’s Most Dangerous Man”.

BidFX is a cloud-based foreign exchange (FX) trading platform for institutional investors.

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).

SINGAPORE (March 27): As part of its efforts to strengthen its multi-asset exchange strategy, the Singapore Exchange has acquired a 20% stake in BidFX for US$25 million ($33.8 miillion) in cash.