Singapore Exchange (SGX) has just announced that it has acquired a 20% stake, by investing $25 million, in TradingScreen’s BidFX – a specialized trading platform for global FX markets, launched back in 2017.
This investment will allow SGX to offer its Asian FX futures alongside BidFX’s OTC products, bringing together both pools of liquidity.
BidFX enables hedge funds and asset managers to access better liquidity, generate alpha and simplify workflows, and will use the investment for technology development.
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-the-counter (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.
Jean-Philippe Malé, CEO of BidFX, added:
This capital investment enables us to enhance our expertise and products to deliver comprehensive FX trading coverage to market participants in one workflow management system.
Pierre Schroeder, CEO of TradingScreen, commented:
We’ve been incubating BidFX inside TradingScreen, with demand for the most sophisticated FX trading and workflow solutions expected to grow significantly in the coming years. This investment strengthens BidFX’s leadership status across the global financial markets ecosystem.