Intercontinental Exchange Completes Acquisition Of Singapore Mercantile Exchange
IntercontinentalExchange Group (NYSE: ICE), the leading global network of exchanges and clearing houses, today announced the successful completion of its previously announced acquisition of Singapore Mercantile Exchange (SMX), following regulatory approval by the Monetary Authority of Singapore (MAS).
The acquisition adds to ICE’s current network of markets and clearing houses in the U.S., Canada, Brazil, the U.K. and continental Europe and provides ICE with exchange and clearing infrastructure in Asia for the first time.
As previously announced, SMX, including the SMX Clearing Corporation (SMXCC), will continue to be based in Singapore and operate as a separate recognised body with its own independent board of directors, including Ang Swee Tian, the former President of the Singapore Exchange (SGX). The exchange and clearing house will transition from existing technology to the ICE trading and clearing platforms in due course.