Digital securities marketplace ADDX has appointed former Singapore Exchange (SGX) Managing Director Chew Sutat as its new Chairman. According to a note from the company, Sutat has Chaired the listing committee of ADDX since 2019. SGX is a shareholder in ADDX.
ADDX Pte Ltd took over operations of the ADDX platform from ICHX Tech in 2022. Sutat will also be a board member of ICHX Tech concurrently.
Danny Toe will remain chairman and Chief Executive Officer of ICHX Tech, while Oi-Yee Choo will remain CEO of ADDX.
ADDX is approved by the Monetary Authority of Singapore as a recognized market operator (RMO and also has a capital markets services (CMS) license.
ADDX currently serves accredited investors from 39 countries spanning Asia Pacific, Europe, and the Americas (with the exception of the US). The platform leverages blockchain and smart contract tech to streamline the issuance and trading process.
Sutat is expected to provide high-level guidance and leadership to boost ADDX’s position in the global private market sector. Part of the mission of ADDX is the further global expansion of its private market offerings.
Sutat said he is looking forward to working with the team on strategies to increase liquidity and scale in the private market sector.
Danny Toe, CEO of ICHX Tech, stated:
“Sutat has demonstrated his ability to drive innovation and growth in a highly competitive and regulated industry – the transformation of SGX from an Asian gateway into a global multi-asset exchange over his 14 years of service is testament to that. His regulatory know-how, experience and expertise from his time at SGX will be invaluable as we set our sights on regional expansion. Sutat will play a critical role in ensuring ADDX is well-governed and positioned for long-term success. I am confident that he will provide the high-level strategic thinking and leadership needed to help ADDX penetrate and navigate markets beyond Singapore’s shores.”
ADDX reports that it has listed more than 70 deals on its platform, including private equity, hedge funds, venture capital, private credit, real estate, debt, and structured products.
