Date Issued: 18 May 2007
Date Closed: 08 June 2007
Status: Closed for Consultation
THE SINGAPORE EXCHANGE ISSUES CONSULTATION PAPER ON AMENDMENTS TO THE MINIMUM BIDS SCHEDULE FOR SGX SECURITIES MARKET
Singapore Exchange Limited (SGX) is inviting further public comments on proposed amendments to the minimum bids schedule for the SGX securities market. These amendments have resulted from the first public consultation conducted in February-March 2006.
The revisions aim to lower transaction costs and enhance market liquidity. This is in line with SGX’s continuous efforts to improve market efficiency and foster a vibrant investing community.
In its proposal, SGX recommends the following revisions:
1) A reduction in the minimum bid sizes for securities¹ priced above $3.00, which reduces the bid-ask spread and transaction costs; and
2) An increased single tier forced order schedule for securities¹ to reflect the reduction in the minimum bid sizes.
¹ ‘securities’ exclude ETFs, bonds, debentures, loan stocks and those securities traded in Japanese Yen and Hong Kong Dollar.
The minimum bid schedule for the remaining SGX securities products will be implemented as stated in this consultation paper. The rationale for revising the minimum bid sizes of these products was outlined in the first public consultation paper issued on 20 February 2006, which is provided at Appendix A.
Market participants and members of the public can forward their feedback and suggestions on the proposed changes from today to 8 June 2007 via email and either by post/courier or by fax.
| Email: | rules@sgx.com |
| Post/Courier: | Singapore Exchange Limited
2 Shenton Way, SGX Centre 1
#19-00,
Singapore 068804 |
| Attn: | Ong Hui Han
Product Management
Sibylla Muecke
Regulatory Policy |
| Fax: | (65) 6535 5573 |
| SGX Consultation Paper - 18 May 2007 |
| Title | (In PDF) |
| Consultation on Proposed Amendments to the Minimum Bids Schedule for SGX-ST Market (with Reference to the Public Consultation issued on 20 February 2006) |
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