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.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
