SGX Reaches Agreement with Baltic Exchange Over Proposed Acquisition

One of Asia’s leading Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term operators, Singapore Exchange Limited (SGX), today revealed progress on its bid to acquire London-headquartered Baltic Exchange Limited (Baltic Exchange), a transaction aimed to strengthen two key maritime hubs between the U.K. and Singapore, supported by the synergy of the two financial market operators.

This development follows nearly three months after SGX initially announced its intentions in February to acquire the company and said today in a statement that an agreement was reached to enter into exclusive talks based on a cash offer to acquire 100% of Baltic Exchange’s share capital in the proposed transaction.

Exclusive talks to commence

The Baltic Exchange provides financial products including trading and Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term of physical and derivative shipping contracts, as well as acting as a source for independent Maritime market data helping to support the global shipping industry. The bid remains non-binding pending subsequent steps that would be needed to close the transaction, as moves between customary stages.

Commenting on the company statement, SGX CEO Loh Boon Chye said: “We are delighted to have been granted exclusivity to discuss this potential transaction and look forward to working with Baltic Exchange’s shareholders, members and relevant stakeholders to further discuss our proposals.

Derivative Shipping contracts

Mr. Chye added regarding the long-standing relationship with the London company: “This is the tenth year of our relationship with the Baltic Exchange and we recognise the integral role the Exchange plays within the global shipping community, which we hope to develop for the benefit of the industry as a whole.”

Members of each company will hold meetings together to discuss the deal, along with shareholders and other potentially affected parties, to talk about the offer which will remain exclusively until June 30^th 2016.