SGX: Entered partnership where Taiwan Stock Exchange will join SGX as a remote trading member. TWSE member brokers will be able to directly trade SGX-listed securities via Global Link when it goes live in 2Q16.
However, given current market conditions, and the decreasing pie of SGX and TWSE in the AsiaPac ADT pool, Deutsche Bank expect a slow start to the trading link, implying little material earnings accretion.
Deutsche Bank keeps forecasts unchanged. Nevertheless, they have a Buy call on SGX with TP of $8.30
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