News Formal

UOB Bullion and Futures to sell brokerage and clearing business for US$5m

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

UOB's wholly owned subsidiary UOB Bullion and Futures has entered into an agreement with financial services firm INTL FCStone to sell its futures and options, brokerage and clearing business for US$5 million, with a view to winding down the business following a review. Read more at The Business Times.

UOB's wholly owned subsidiary UOB Bullion and Futures has entered into an agreement with financial services firm INTL FCStone to sell its futures and options, brokerage and clearing business for US$5 million, with a view to winding down the business following a review.

In statements issued on Tuesday separately to the Singapore Exchange and to the media, UOB and INTL FCStone said respectively that the asset purchase agreement through the latter's Singapore subsidiary hinges on the Monetary Authority of Singapore giving the green light. Deputy chief executive, Asia, of INTL FCStone, Greg Kallinikos said:"Adding such a well-established, Asian-focused futures and options brokerage and clearing business to the INTL FCStone group gives us critical mass in our regional capabilities, provides us access to a solid and reputable client base, and enhances our global product offering out of Singapore.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks to watch: UOB, Singtel, Thomson Medical, SIIC Environment, China Sunsine, Anchor ResourcesTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Novartis generics boss quits amid conjecture over business's futureNovartis's generics chief is quitting after the Swiss drugmaker sold parts of the business and initiated an 18-month revamp, fueling speculation ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

New CEO of Walmart Japan and Seiyu says 'not here to sell a business'The newly appointed chief executive of Walmart Japan and Japanese supermarket chain Seiyu said on Monday he had no plan to sell the Japanese ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Stocks to watch: UOB, Singtel, Thomson Medical, SIIC Environment, China Sunsine, Anchor ResourcesTHE following companies saw new developments that may affect trading of their shares on Wednesday: Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »