Singapore Exchange (SGX) is buying MaxxTrader, an FX trading platform, in its latest effort to become not only a multi-asset exchange but the continent’s leading foreign exchange derivatives marketplace.
The $125 million acquisition from FlexTrade Systems follows the purchase of BidFX last year. Where BidFX has a buyside customer base, MaxxTrader is stronger on the sell-side. In combination, these two deals position SGX firmly in the over-the-counter FX space to go alongside its existing strength in on-exchange currency derivatives.
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