...several executives said MAS had approached a number of international clearing houses, including the US-based group Intercontinental Exchange (ICE), which has Asia ambitions.
Other big international clearers such as LCH.Clearnet of the UK, the world’s largest clearer of OTC interest rate swaps, and Chicago-based CME Group may be approached as the plan progresses.
Any new clearing operation would compete with two existing exchange and clearing operations run by SGX, the Singapore exchange, and Singapore Mercantile Exchange (SMX), owned by India’s Financial Technologies group, which has been licensed and is due to launch shortly.
Wednesday, July 14, 2010
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