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SGX Planning to Become 'Asian CME', Boosting IPOs & Considering Privatization Dishearten Employees: Report
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Bloomberg cited employees from the Singapore Exchange (SGX) responsible for IPOs as expressing frustration with the top management's goals. SGX aims to more than double the number of new listings in the fiscal year ending June 2025 compared to the previous fiscal year's seven, while preventing more companies from delisting. Employees believe these targets are unrealistic and unattainable. Sources revealed that SGX's future goals include not only engaging in cash equity business but also transforming into the "Asian Chicago Mercantile Exchange (CME)" to cover derivatives, futures, and options. Some reports suggested that one of the options under consideration to reduce public scrutiny is privatizing SGX. Sources also indicated that SGX has already cut costs internally, including reducing business trips. Last month, SGX's co-head of capital markets, Matthew Song, resigned after just one year in the position. Rumors said that the group's internal morale is sluggish, and more employees are considering resignation. AAStocks Financial News |
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