The Baltic Exchange Ltd has entered into exclusive discussions with Singapore Exchange Ltd (SGX) for the sale of the 272-year old global maritime organisation.
If the deal goes ahead, it would see the Baltic’s existing presence in Asia broaden via SGX’s regional distribution network, the retention of the multiple clearing house model, and a commitment to preserve the Baltic’s current ethos as a membership organisation with member market activities governed by the Baltic Code. SGX has also said it would freeze existing membership subscriptions and data fee levels for members for five years, maintain SGX clearing fees for Freight Forward Assessment (FFA) contracts at current levels for at least five years.
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