Singapore Exchange acquired a 20% stake in BidFX for $25m.

Singapore Exchange, an investment holding company, acquired a 20% stake in BidFX, an upstart foreign exchange trading platform based in London, for $25m. The strategic investment is part of SGX’s strategy to build core pillars of growth across multiple asset classes. BidFX, a specialised trading platform for global FX markets, plans to utilise the funds to further grow its reach and offering among institutional investors. Loh Boon Chye, Chief Executive Officer of SGX, who will join the Board of BidFX, said, “FX is one of our key growth pillars and we are excited to strengthen our service proposition to the market. With this investment, we have an opportunity to offer our suite of Asian FX futures alongside the over-thecounter (OTC) products offered on the BidFX platform, bringing together both pools of liquidity. We are confident that over time, they will establish themselves as a global e-FX platform and complement our fast-growing FX business.”