Cleartrade Exchange to sell majority stake

Source: Cleartrade Exchange

Cleartrade Exchange (CLTX), the Singapore Regulated Futures Exchange, today announced its first share offer to professional investors.

An investment memorandum has been distributed to a number of strategic investors and market participants. Northland Capital Partners Limited is representing CLTX. The share issue marks a milestone for the organisation and is a unique opportunity for market users to become shareholders of the exchange, gaining a share in the success of this innovative and dynamic organisation.

"I am delighted to announce this share issue," said Richard Baker, Cleartrade Exchange CEO. "This step in the growth of Cleartrade Exchange has been part of our strategy since the launch of the exchange and reaching this milestone marks a transition into the next phase for the business."

CLTX was founded in February 2010 and has been operating since March 2011, when it received its regulatory licence. It now has more than 30 trading members, with access to 43 commodity contracts, electronic connections to three major clearing houses and price distribution via desktop and mobile.

Baker adds: "This is a thrilling time for us. Over the last two years CLTX has built a regulated marketplace for commodity derivatives and with new global regulations in this sector starting to bite we are seeing the dividends. CLTX is now processing over 300,000 lots per quarter, which is a phenomenal achievement for a relatively new exchange. This share issue brings the potential to accelerate our growth and build on our successes to date. Everyone at CLTX is very excited and optimistic about what can and will be achieved." 

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