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The Stock Exchange of Singapore (SES) was a Singapore Stock Exchange company. It was formed in 1973, when the termination of currency interchangeability between Malaysia and Singapore, caused the Stock Exchange of Malaysia and Singapore (SEMS) to separate into the SES and The Kuala Lumpur Stock Exchange (KLSEB).
It merged with the Singapore International Monetary Exchange (SIMEX) on December 1, 1999, to form the Singapore Exchange (SGX).
Alliances:
Singapore Stock Exchange already acquired a strategic investment in Bombay Stock Exchange (5%) for US$42.7m. It is consistent with the strategy of building an Asian Gateway for securities and derivatives. Collaboration was also signed with Abu Dhabi Securities Market in order to benefit from the Singapore and United Arab Emirates. Moreover, Tokyo Stock Exchange is looking for some partners in Asia and is currently discussing with Singapore Exchange to develop jointly traded products. Tokyo Stock Exchange (TSE) may even take a major stake in Singapore Stock Exchange.
After the London Stock Exchange (LSE) rejected a £2.4bn takeover approach from NASDAQ in 2006, LSE showed that it is fighting to retain its independence and preferred to establish an Euro-Asian Gateway for securities and derivatives. LSE is currently collaborating with SGX - calling it a major strategic partner in Asia - and may even take a stake in the exchange.
On June 15, 2007, TSE announced that it had purchased a 4.99% stake in SGX for 37.4 billion yen (US$303 million). The Monetary Authority of Singapore (MAS) and SGX today released the findings from a study they had commissioned on the current state of corporate governance of SGX-listed companies in Singapore.
Singapore Stock Exchange plays a major role in the economy of the country.
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