Singapore Exchange and Bank of China are broadening their collaboration to develop more yuan-denominated commodities and derivatives contracts and to improve clearing and settlement of China's currency. Joint marketing also will be considered.
Some brokers and investors are calling for Singapore Exchange to no longer have regulatory authority. The departure of CEO Magnus Bocker is seen as an opportunity for the Monetary Authority of Singapore to create an independent financial regulator.
Australian Treasurer Wayne Swan has authority to block mergers and other deals involving foreign owners, so he was surprised to learned that Singapore Exchange and ASX had been discussing a tie-up. Companies tend to approach the treasurer's office, but Swan heard about the proposed deal after it hit the news wires. While SGX and ASX officials expressed confidence about the proposal, many industry insiders and officials said they faced significant challenges from the beginning, according to this Reuters analysis.