China-backed Singapore bourse gets regulator's nod


SINGAPORE: Asia Pacific Exchange Pte (Apex) has received in-principle approval from the Monetary Authority of Singapore (MAS) to start a third derivatives exchange in the city, according to people with knowledge of the matter.

Apex is now working on getting final approval from the city’s regulator, according to the people who asked not be identified because the information is confidential. The company, which has about 40 employees, plans to open its exchange with refined palm oil contracts, the people said. The commodity will be priced in dollars and physical delivery will be in Malaysia and Indonesia.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Singapore , bourse , nod

   

Next In Business News

IT buoys GDEX’s confidence
Investors brace for 5% Treasury yields
Are there too many GPs and is the healthcare system overwhelmed?
Sapura Energy takes a step to turn the tide
Japan frets over relentless yen slide as BoJ keeps ultra-low rates
Singapore’s growth trajectory remains intact
Powering on data centres
CMM seeks feedback on Sector Guides for ESG disclosures
Gadang gets RM280mil data centre job
MAA to sell entire stake in Turiya for RM53mil

Others Also Read