By P.R. Venkat

SINGAPORE--Singapore Exchange Ltd. is planning to acquire the remaining 80% stake in BidFx that it doesn't already own for a cash consideration of US$128 million.

The acquisition of the stake in the cloud-based foreign exchange trading platform company will expand SGX's reach beyond FX futures into the global FX over-the-counter market, the bourse said Monday.

Since 2017, BidFx's average daily volumes have grown at a compounded annual growth rate of 57% to US$31 billion in May 2020, SGX said. 



  Write to P.R. Venkat at venkat.pr@wsj.com