ASX, SGX Jointly Host Data Centre

By Vittorio Hernandez,

Shutterstock photo

The Australian Stock Exchange ( ASX ) and Singapore Stock Exchange (SGX) will jointly host a data centre beginning September to boost the flow of futures activity between the two major bourses.

ASX Deputy Chief Executive Peter Hiom said the new initiative is part of ASX's plan to internationalise Australia's largest stock exchange.

In 2011, Canberra rejected an $8.4-billion takeover bid by the SGX for ASX since it was against the national interest of Australia. The decision made SGX instead focus on organic growth via new products and improved connectivity with other global exchanges rather than pursuing mergers and acquisitions.

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This article appears in: Investing Commodities
Referenced Stocks: ASX

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