ICE to acquire Singapore Mercantile Exchange
IntercontinentalExchange Group announced a definitive agreement to acquire Singapore Mercantile Exchange in an all-cash transaction. The acquisition will add to ICE’s current network of markets and clearing houses in the US, Canada, Brazil, the UK and continental Europe. Under the terms of the agreement, ICE will acquire 100% of Singapore Mercantile Exchange. This includes the SMX Clearing Corporation, a wholly owned subsidiary of SMX and the clearing house for all SMX trades. The transaction is expected to close by the end of 2013, subject to applicable regulatory approvals and closing conditions. SMX operates futures markets in Singapore across metals, currencies, energy and agricultural commodities.