Singapore Exchange Ltd. (SGX) is shooting down rumours of a potential merger with the London Stock Exchange plc.
The SGX released a statement Monday that aims to clarify market rumours about a potential merger with the LSE, saying that it has not engaged in talks with the LSE on a possible combination. However, the exchange did say that it is open to “collaborations and partnerships” that may benefit the company and its shareholders.
Indeed, earlier this month the two exchanges did announce a plan to quote and trade the most active stocks on one another’s markets. The trading of SGX-listed shares on the LSE is expected to launch early in the next quarter, and LSE-listed securities are expected to start trading on the SGX in the first half of 2013.
The SGX said it will notify the market of any material developments on any merger talks, as required under local securities laws.