Bombay and Tokyo Stock Exchange

Singapore Exchange acquired a strategic investment in Bombay Stock Exchange (5%) for US$42.7m. This was consistent with the strategy of building an Asian Gateway for securities and derivatives.^{[citation needed]} A collaboration was also signed with Abu Dhabi Securities Market in order to benefit from the Singapore and United Arab Emirates. The SGX also has a 50-50 joint venture with the Chicago Mercantile Exchange to list commodity futures on a Singapore-based platform called Jade, which aims to tap a fragmented but fast-growing market for derivatives.^{[citation needed]} Moreover,Tokyo Stock Exchange is looking for some partners in Asia. On June 15, 2007, TSE announced that it had purchased a 4.99% stake in SGX for 37.4 billion yen (US$303 million). Tokyo Stock Exchange (TSE) is considering to rise in Singapore Exchange and is currently discussing with Singapore Exchange to develop jointly traded products. They plan to develop joint equity and interest-rate products, though analysts^[who?] said the main lure for the TSE was SGX's expertise in futures and clearing services.