SINGAPORE PRESS-SGX looks to cut dependency on domestic volumes - Business Times
Singapore Exchange Ltd is looking to reduce its dependency on trading volumes by partnering with Clearstream to begin a new collateral management service in 12 to 18 months.
Following a letter of intent signing in September 2013, SGX and securities depository Clearstream are now working to create a new business unit in Singapore to help institutions and members better allocate resources between the clearing house and their balance sheet, SGX head of post-trade services Nico Torchetti said at a press briefing on Tuesday.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Reporting by Singapore Newsroom; Editing by Subhranshu Sahu)