Trading bourse owner SGX will take over the remaining 80% of the FX trading platform operator, its Asian Gateway Investments vehicle having invested $25m last year.
Stock market operator Singapore Exchange (SGX) announced on Monday that it will pay $128m to wholly acquire a portfolio company, BidFX, the US-based developer of a purchase foreign exchange (FX) platform .
SGX’s Asian Gateway Investments fund paid $25m for a 20% stake in BidFX in April 2019, and the latter’s parent company, TradingScreen, will sell the rest of the shares to SGX in an all-cash deal.
BidFX was founded in 2017 and has built a cloud-based execution management…
