Singapore's China-Backed Exchange to Start Trading on May 25

Asia Pacific Exchange will open with refined palm oil futures
China aims to expand its influence on global commodity prices

Singapore Exchange’s Michael Syn discusses the opening of a third exchange in the island country.(Source: Bloomberg)

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By Alfred Cang and Andrea Tan

May 17, 2018 at 10:29 AM UTC

Updated on

May 18, 2018 at 7:08 AM UTC

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Chinese-backed Asia Pacific Exchange Pte said it will start trading in Singapore on May 25, the latest foray into overseas trading venues by mainland investors.

Apex will offer palm olein futures that will be dollar-denominated and physically delivered, it said in Thursday’s statement. The bourse will be the third derivatives exchange in the city-state, joining venues owned by Singapore Exchange Ltd. and Intercontinental Exchange Inc.