Australian Competition and Consumer Commission (ACCC) chairman Graeme Samuel, quoted by public broadcaster ABC, said "I think it's a matter between the Singapore exchange and the Australian exchange and I can't see that raising competition issues for us." The announcement comes as the ASX is about to lose its long-held monopoly in Australia after the government gave the green light for rival share exchanges. SGX chairman-elect Chew Choon Seng will likely become the non-executive chairman of the merged entity, while ASX chairman David Gonski is expected to become deputy chairman. The combined group will have 1,100 employees and an international board with 15 directors from five countries. "At the end of the day, this combination is not just about cost synergies. It's really about strategically making us a much stronger exchange together, and positioning us to grow into Asia," said Seck Wai Kwong, chief financial officer of SGX.