11 Apr '11, 1pm

SGX disappointed over failed ASX takeover; focusing on organic growth

SINGAPORE: Singapore Exchange CEO Magnus Bocker has expressed his disappointment with his failed takeover bid for the Australian Securities Exchange (ASX), and said that SGX will focus on building its existing business for now. Mr Bocker was speaking at the opening of the exchange's new data centre, which is aimed at boosting liquidity and grow high frequency trading segment. Despite the best efforts of the SGX, its takeover bid for its counterpart down under was blocked last week by the Australian Treasurer. "We will take the time to analyse it and see what are the lessons, the requests that come out of the treasury department. There is no doubt it was a disappointment. The proposed merger was very significant merger for the financial market of Australia and financial market of Singapore," said Mr Bocker. Mr Bocker reiterated that the exchange's primary focus had always b...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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