Magnus Böcker, chief executive of the Singapore Exchange, today (January 18) insisted the bourse had not contemplated altering the terms of its merger with the Australian Securities Exchange, despite rising opposition from Australia.
Speaking at the unveiling of SGX’s second quarter 2011 financial results, Böcker said that although the merger was unpopular in Australia – with many concerned at the loss of control of the national stock exchange – SGX was committed to the original deal terms. Böcker avoided referring to the political opposition, but focused on appeasing the exchange’s shareholders. He concluded that the process for committing to the deal was a “very long one”, and that shareholders needed the opportunity to “discuss any potential issues they...