Singapore Exchange will reshuffle its business operations in a month, and also moves on without its co-president.
Starting May 1, Singapore Exchange (SGX) will commence a restructuring that will divide it into five business units: Derivatives, Listings, Market Data & Access, Post-Trade and Securities. It is also seeing its co-president step down after 11 years with the exchange.
The business units, with the support of the sales & clients unit, will collectively drive the expansion of the products and services suite, the attraction of more and larger listings, the growth of retail and professional participation, and the building of the post-trade business.
The current fixed income business will become a part of the enlarged securities unit while the commodities business will be grouped within the enlarged derivatives unit. The current operations and technology units will be aligned under a newly-created chief operations and technology officer role.
CEO Magnus Bocker will assume direct responsibility for listings and sales & clients. President Muthukrishnan Ramaswami will lead derivatives, market data & access, post-trade and securities.
Co-president Gan Seow Ann is resigning but will stay on as advisor. He will lead, in his new role, the creation and establishment of advisory boards, particularly for the listings, fixed income and commodities businesses.
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