Singapore Exchange Limited (SGX) today announced that it has agreed in-principle to accept the offer of a 20% equity stake in Philippine Dealing System Holdings Corp. (PDS) for an estimated investment of Php 150m (approximately S$5m1). This investment is offered to SGX at par value of Php 100 per share. The proposed acquisition is subject to mutually-agreeable terms and necessary approvals.
PDS operates a fixed-income exchange, depository and foreign exchange settlement platform. This proposed acquisition will provide SGX the opportunity to expand into a new geographical market and collaborate with PDS on derivatives products. SGX and PDS will also explore depository linkages to custodise securities in each other's markets, on behalf of their account holders. The proposed collaboration will reinforce SGX's Asian Gateway strategy and position.
You Might Also Like...
- London Stock Exchange Group Opens New Technology Facility in Sri Lanka
- Market Guidance on Standardization of the ISDA Variation Margin CSA
- IHS Markit and Oliver Wyman Join Forces to Develop Risk Factor Modellability Service for FRTB
- CME Clearing Europe Approved as a Derivatives Clearing Organization by CFTC
- CFTC Grants CME Clearing Europe Registration as a Derivatives Clearing Organization
- Post-Trade Services Takes Centre Stage
- AxiomSL Opens Dubai Office as Part of Growing Middle Eastern Presence
- Numerix Introduces High Performance FRTB Solution