SMX purchase gives Ice two-year Asia advantage over rivals

racehill

Ice's $150 million purchase of the Singapore Mercantile Exchange from Chennai-based Financial Technologies Group has given the firm prime position over the CME Group and Deutsche Bourse-owned Eurex in Asia and sharpened competition among the regional exchanges, according to market participants.

The deal was announced in November, coming after Ice completed its acquisition of NYSE Liffe. It is expected to be finalised by the end of the year, giving Ice independent trading and clearing infrastruct

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