Trumid XT will connect the commercial footprint and liquidity from SGX's Bond Pro and Trumid's Market Center in the United States to provide a robust network for trading of Asian fixed income.
Singapore Exchange unit, Asian Gateway Investments, will take about one-third stake in the combined company.
Rebar on the Shanghai Futures Exchange rose 2.3% by 0330 GMT and hot-rolled coil jumped 3.1%, both also up for a third straight session. Stainless steel gained 0.2%.
Reassurances from Federal Reserve boss Jerome Powell that record-low interest rates and loose monetary policy would remain in place for some time also removed some lingering angst on trading floors.
China's Dalian Commodity Exchange has moved to limit non-futures company members' single-day position openings for iron ore futures to 2,000 lots from Tuesday's session.
"Although the actual demand and the state of destocking are slower than before, the overall destocking (trend) is still maintained," they wrote in a note.
China, the world's biggest steel producer, churned out 87.66 million tonnes of crude steel last month, down from 92.2 million tonnes in October but up from 80.29 million tonnes in November 2019.