Reuters: Financial Services and Real Estate: UPDATE 1-Singapore Exchange overhauls business strucutre

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UPDATE 1-Singapore Exchange overhauls business strucutre Mar 28th 2012, 01:34 Tue Mar 27, 2012 9:56pm EDT SINGAPORE, March 28 (Reuters) - Singapore Exchange Ltd (SGX) said on Wednesday it is streamlining its business structure to try and improve its growth prospects. The bourse said it will reorganise into five key business units - derivatives, listings, market data and access, post-trade and securities - from May 1. Its fixed income business will become part of the securities unit, while commodities will move into derivatives. SGX chief executive Magnus Bocker would take direct responsibility for the listings business, as well as overseeing the separate sales and clients unit. Bourse's president Muthukrishnan Ramaswami would oversee the other four business areas. In a separate announcement the exchange said its co-President, Gan Seow Ann, has decided to resign after 11 years with the bourse, but would stay on as an adviser. (Reporting by Harry Suhartono and Rachel Armstrong; Editing by Richard Pullin and Paul Tait)

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