AsiaEuropeOperations
UK financial regulator approves Baltic Exchange sale
The UK’s Financial Conduct Authority (FCA) has approved Singapore Exchange’s $107m takeover of London’s Baltic Exchange allowing for the deal to be completed quicker than expected.
“In light of the decision by the FCA, the court hearing to sanction the scheme, initially expected to be in late November 2016, has now been scheduled to take place on 7 November,” the Baltic said in a statement.
News that SGX was in discussions to take over the Baltic was broken first by Splash in May this year.