As reported by FO Week earlier this year (see FO Week Vol 10 No 8), several large trading arcades have been exploring the possibility of opening Singapore operations, with the first official announcement coming last week.
Refco Trading Services issued a statement that it is to take lease of Singapore Exchange (SGX)'s global electronic trading centre (GTEC) as of 1 August, while Schneider trading Associates (STA) and Saxon Financials confirmed to FO Week that they both plan to move into the area as soon as possible.
Both the latter firms, however, said they planned to open start-up operations rather...