SGX Eyes More M&A for Growth

Singapore Exchange will look to scale up its operations by maintaining focus on mergers and acquisitions.

SGX chief executive Loh Boon Chye said the city-state’s bourse will remain focused on mergers and acquisitions as a means of growth.

It fully acquired foreign exchange trading platform BidFX after obtaining the remaining 80 percent stake in June last year. Earlier in 2020, it acquired a majority stake in index provider Scientific Beta.

We are not stopping our M&A focus,» Loh said in a report. We have said we will bulk up and given that we are now a multi-asset exchange, one of the ways is to also scale up further. We will look at acquisitions.

According to Loh, SGX is set to achieve the 2025 target of having 50 percent of its revenue generated by its fixed income, currencies and commodities segment, alongside data, connectivity and indices, earlier than expected.

SGX continues to expand its product offering with plans to roll out infrastructure for carbon credit trading with select partners and the potential introduction this year of blank-check vehicles or SPACs (special purpose acquisition company), according to a separate report.