Asian stock and derivatives exchanges sense growing competition from electronic trading and internet-based networks that might supersede them. Their response has been to demutualize, decide to run themselves as commercial businesses rather than private clubs, list publicly, merge, embrace new technology, and allow traders remote-access. In Singapore, the stock exchange is bracing itself for the effects on its member broking firms of deregulation of commissions, and futures exchange Simex, according to its president, Ang Swee Tian, is increasingly mindful of competition from non-exchanges.
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