Singapore Exchange (SGX)

[weijian]

IMHO what is more contentious is the CLOB issue because SGX was clearing trades that Malaysia claimed to be quasi-"illegal" to set up an offshore bourse. When CLOB collapsed SGX denied any responsibility. The devil as always is in the detail

I was still in school uniform during CLOB time. So, I did some search on history and found that it was triggered because CLOB seemed to clash against Dr M's capital control policies. More importantly, there arosed alot of distrust between the countries as Msia believed that foreigners were borrowing CLOB shares to further short them.

I find it eerily similar to the VIE structure that all US listed Chinese firms are using right now. VIE is considered a grey area for the Communist Party but I suspect the "inner demons" will only be surfaced out in times of trial and testing. While there are similarities above, do note that US-China vs Msia-Spore power dynamics are entirely different. It does take a big ugly black swan for richest guy in town to want to clash with the sheriff.