SINGAPORE, Apr 8, 2011 - (ACN Newswire) - This morning, SGX was informed that the Australian Treasurer has made a statement that he has rejected the proposed merger of ASX and SGX.
In these circumstances, the parties have agreed to mutually terminate the Merger Implementation Agreement entered into on 25 October 2010.
Asia will remain the world's growth engine in the coming decades. SGX, as the Asian Gateway, is well-positioned to leverage on opportunities within Asia's vibrant and dynamic economies. As Asia's most international exchange, we will continue to pursue organic as well as other strategic growth opportunities, including further dialogue with ASX on other forms of co-operation.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Singapore Exchange (SGX)
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Apr 8, 2011 08:35 HKT/SGT
Source: Singapore Exchange (SGX)
Topic: General Announcement
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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