Chinese-backed APEX said to have MAS nod to set up Singapore's third derivatives exchange

From The Straits Times

Aug 24, 2017


SHANGHAI/SINGAPORE (BLOOMBERG) - Asia Pacific Exchange Pte (Apex), has received in-principle approval from the Monetary Authority of Singapore (MAS) to start a third derivatives exchange in the city, according to people with knowledge of the matter.

APEX is now working on getting final approval from MAS, according to the people, who asked not be identified because the information is confidential. The company, which has about 40 staff, plans to open its exchange with refined palm oil contracts, the people said. The commodity will be priced in dollars and physical delivery will be in Malaysia and Indonesia.

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