Vermillion Asset Management LLC, a New York-based hedge fund firm, incorporated a trading unit in the Shanghai free-trade zone where the world’s second-largest economy is seeking to boost trade and financial services.
IntercontinentalExchange Group Inc. agreed to buy Singapore Mercantile Exchange Pte for $150 million to add commodity futures trading in Asia, where China reigns as the biggest user of everything from energy to metals.
Hong Kong Exchanges & Clearing Ltd.’s bid for the London Metal Exchange, the most expensive bourse merger over $1 billion, is seen as a way for the LME to expand into China, the world’s largest buyer of metals.
Singapore Exchange Ltd., operator of the city’s securities and derivatives markets, represents as much as 90 percent of global over-the-counter clearing of iron- ore swaps, said the chief executive of its commodity unit.
Martin Abbott has been a fashion journalist, advertising salesman, pub manager, security guard and coal miner. The chief executive officer of the London Metal Exchange, the biggest metals market, may soon be a dealmaker.
Rahm Emanuel ’s victory in the Illinois Supreme Court, allowing the frontrunner to stay on the Feb. 22 ballot to replace Richard M. Daley as mayor of Chicago, returned the election race to a focus on issues and money.