SGX: Deutsche Boerse CEO indicated he may seek an Asia partner, without elaborating further. This follows an earlier agreement by Deutsche Boerse to buy NYSE parent, NYSE Euronext.
At the same time, NYSE Euronext and the Tokyo Stock Exchange said they will allow their customers to trade shares listed on each other’s venues. TSE owns 4.99% of SGX... The M&A fervor amongst stock exchanges globally should spur a greater determination for the ASX-SGX to go through. Meanwhile SGX would also be keen to pursue other possible collaborations. We see successful developments by SGX to boost scale and connectivity as a positive driver for trading volumes, and longer term prospects...
Nevertheless, the Street currently has mixed views due to uncertainty in the environment. Street calls range from Underperform to Buy, with large TP range btwn $7.20-10.50.
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