Singapore Exchange (SGX)

The link is about buying stocks in each other exchanges in a controlled way.
Dont have to be real-time. No even a dual listing. So NYSE and LSE can do.

HK got nothing to offer except it cannot fail. If not, can forget about TW coming back to PRC.

(17-04-2015, 11:35 AM)CityFarmer Wrote:

(17-04-2015, 09:35 AM)opmi Wrote: What does SGX has to offer for the SG-SH link? Liquidity? Quality companies?

NYSE or LSE will link first before SGX.

Frankly, I look SGX no up.

What does HKSE offer to SH-HK link? The same is offered by SGX, as a comparable regional financial hub. SGX as the regional hub within South Asia, should never be undermined, IMO

NYSE and LSE are comparable, but time zone is way out. Time zone is a critical consideration.

(17-04-2015, 12:17 PM)specuvestor Wrote: The infrastructure is here. BOC is already RMB clearing bank in Singapore. We have RMB listed stock as well.

But we don't have the "spirit". Nobody going to trade RMB stocks here unless SGX figures out how to solve the "chicken and egg" liquidity issue.

Yes, HK still the dominance offshore RMB hub, way ahead of the 2nd one i.e. Singapore.

(17-04-2015, 12:37 PM)opmi Wrote: The link is about buying stocks in each other exchanges in a controlled way.
Dont have to be real-time. No even a dual listing. So NYSE and LSE can do.

HK got nothing to offer except it cannot fail. If not, can forget about TW coming back to PRC.

The understanding on the "link", is beyond me.

(17-04-2015, 05:19 PM)CityFarmer Wrote:

(17-04-2015, 12:37 PM)opmi Wrote: The link is about buying stocks in each other exchanges in a controlled way.
Dont have to be real-time. No even a dual listing. So NYSE and LSE can do.

HK got nothing to offer except it cannot fail. If not, can forget about TW coming back to PRC.

The understanding on the "link", is beyond me.

There is the currency control for citizens where they have no way to pay for the shares (if it not sanction by the Govt) as the Bank have very strict rules and quota per year for each citizen.

Dark pool is not necessary, and a controversial one to investors, including institutional investors.

SGX shouldn't involve again in the dark pool, even opportunity arises, IMO.

World’s biggest wealth fund targets single dark pool to cut fees

OSLO (April 20): Norway’s US$890 billion wealth fund is taking the rare step of publicly criticizing the proliferation of dark pools, arguing the world’s biggest investors only need one such platform.

“There’s a rent extraction from all these intermediaries,” Oeyvind Schanke, head of the fund’s asset strategies, said in a telephone interview.

“We are trying to advocate that we need to bring some of this back to where we started by getting the participants to meet, creating a utility that’s there for the sake of transacting institutional-sized blocks.”

The fund says institutional investors, and the savers they represent, are wasting money paying multiple fees amid a fragmentation of anonymous trading venues over the past decade.

The dark pools have become associated with the phenomenon of front-running, in which bid and offer information is used by high-frequency traders to pre-empt transactions and make a profit at the expense of investors.

The fund, which manages Norway’s oil wealth and holds about US$517 billion in stocks globally, is constantly looking for ways to prevent its investments being targeted by high-frequency traders as it lobbies for fairer platforms.
...
http://www.theedgemarkets.com/sg/article...l-cut-fees

The new wave of S-Chip listings are likely starting in 2nd half of 2015, after the last few years of regulatory re-structuring by SGX/MAS. Let's hope we will get better quality of S-Chips...

SGX and Chengdu Municipal Finance Affairs Office collaborate on listings

Singapore Exchange (SGX) and the Chengdu Municipal Finance Affairs Office (Chengdu FAO) announced today
that they have signed a Memorandum of Understanding (MOU) to cooperate on facilitating capital raising by
companies from Chengdu on SGX.
...
http://infopub.sgx.com/FileOpen/20150420...eID=344810

Chengdu not even 1-tier city.

For me, " Who says this time is different" must be very brave indeed. Or is he?

The ups are mainly from derivative market with 52% increment, while security market only 1% increment. Anyway, overall revenue, and net profit up significantly.

I reckon the April month daily turnover should be impressive, simply base on trading volumes. Let's see the April month statistic, and probably we will have a good 4Q for SGX

(vested)

-------
SGX 3QFY2015 Financial Summary
 Revenue $199 million, up 20% from year earlier
 Operating profit: $103 million, up 17%
 Net profit: $88 million, up 16%
 Earnings per shares: 8.2 cents, up 16%
 Interim dividend per share: 4.0 cents, unchanged
http://infopub.sgx.com/FileOpen/3QFY15%2...eID=345298

The detail result here
http://infopub.sgx.com/FileOpen/SGXNet_3...eID=345297

http://www.bloomberg.com/news/articles/2...de-expands

Singapore Exchange Ltd., Southeast Asia’s biggest bourse operator, reported a 16 percent increase in quarterly profit as equity turnover climbed and a rally in Chinese stocks spurred demand for derivatives.

Profit rose to S$88.2 million ($65.6 million) in the three months through March 31 from S$75.8 million a year earlier, the company said in a filing on Wednesday. Revenue from derivatives jumped 52 percent in the quarter, spurred by a surge in volumes on FTSE China A-50 Index futures, according to the company.

A plan to establish a cross-border, stock-trading platform with Taiwan may start in the first half of 2016, Chief Executive Officer Magnus Bocker said on Wednesday at a briefing in Singapore after the quarterly results were issued. Earlier, Financial Supervisory Commission Minister Tseng Ming-chung had said in Taipei that the link may begin on July 1.

SGX’s average daily equities turnover climbed 6.8 percent to S$1.15 billion during the quarter, according to data compiled by Bloomberg. Revenue from stock trading rose 1 percent, SGX said. The gain came after the bourse in January lowered the minimum board lot for stock transactions to 100 shares from 1,000 shares to boost participation from individual investors.

“This quarter builds on the success of the initiatives introduced thus far,” Bocker, who’s stepping down as CEO in June, said in a statement. “A good example is the reduction of the board-lot size, which has contributed to retail participation in high-priced stocks outpacing retail participation in the overall market.”
Shares Rally

SGX shares rose 2.7 percent to S$8.52 on Wednesday, taking their gain this year to 9.1 percent. The stock rallied to S$8.67 on April 15, the highest intraday price since January 2011 amid the rally in Chinese equities.

SGX announced in February that Bocker will step down in June after more than five years at the helm. The former president of Nasdaq OMX Group Inc. apologized in December for trading disruptions that triggered criticism from Singapore’s financial regulator.

Expenses related to the breakdowns are estimated at S$3 million to S$4 million, SGX said in the statement. Of that total, expenses were S$1.8 million this quarter, it said.

Bocker has focused on new products to bolster SGX’s revenue after his most ambitious plan -- the A$8.3 billion ($6.4 billion) takeover bid for ASX Ltd. -- was blocked by Australia’s government in 2011 on the grounds of national interest.

“It’s not that easy to connect markets,” Bocker said at the briefing, referring to the planned equity-trading link with Taiwan. “It has some challenges.”