Singapore Exchange in Talks to Buy London Exchange
The Singapore Exchange is in talks to buy the London’s Baltic Exchange which has been at heart of the global shipping industry for centuries. The takeover talks come as the global shipping industry struggles with the market conditions after a slump in commodities coincided with an increase in the number of vessels, sending freight costs to record lows.
” A purchase by SGX, would boost its plans to diversify its revenue streams …. hit by sluggish equity listings and securities volumes “
A purchase by SGX, would boost its plans to diversify its revenue streams at a time when it has been hit by sluggish equity listings and securities volumes.
About Singapore Exchange
Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid offshore market for the benchmark equity indices of China, India, Japan and ASEAN. The exchange was one of the first globally to adopt the Principles for Financial Market Infrastructure, the first and only central counterparty in the region to be fully approved by U.S. regulators as a Derivatives Clearing Organisation and a Foreign Board of Trade, and is recognised by European Union regulators for both securities and derivatives. As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities. In 2015, SGX was awarded Derivatives Exchange of the Year by Asia Risk, Futures and Options World and Global Capital as well as Central Counterparty (CCP) of the Year by Asia Risk.
Visit: Singapore Exchange
About London Baltic Exchange
The Baltic Exchange is the world’s only independent source of maritime market information for the trading and settlement of physical and derivative shipping contracts. Our international community of over 600 member firms encompasses the majority of world shipping interests and commits to a code of business conduct encapsulated in the motto our word our bond.
Baltic Exchange members are responsible for a large proportion of all dry cargo and tanker fixtures as well as the sale and purchase of merchant vessels. Headquartered in London, with regional offices in Singapore, Shanghai and Athens, the Baltic is owned by its shareholders, most of whom are members. It is governed by a board of directors elected by shareholders and members.
Visit: London Baltic Exchange
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