CityFarmer Wrote:May be it is configured as steaming, rather than static (manual refresh needed). I am using it, and so far no similar issue too.
I know when i did the screen capture it was on static mode. So as to load the page faster.
Prior to this i was on streaming mode.
So i am sure i know what i am doing and have checked before posting this.
The order was submitted earlier and was not reflected.
That was why i went to the sgx site to check on the buy queue at least a good half hour before i wrote on this issue. (Ok, maybe can say sgx site is slow on quotations)
This issue is not new or constrained to GK counter only.
I don't think this is a specific poems only issue. Likely it is the main quotation site that is handling the buy/sell.
Because i did also use SCB to put in a buy trade before i did with poems, which was also not reflected.
(09-06-2014, 10:59 AM)orangetea Wrote: Btw, here is another example...
Straits Trading
The buy q is 2.99 while sell q is 3.10
There seems to be an 'algo' like trading which if we submit a buy order at $3, it will likely be filled despite the sell q at higher prices.
Thats how i got my straits trading at $3
We need to realise that most trades in stock market are done by machine, rather than human being. The chances are, you are right that there is an "algo" around.
CityFarmer Wrote:May be it is configured as steaming, rather than static (manual refresh needed). I am using it, and so far no similar issue too.
I know when i did the screen capture it was on static mode. So as to load the page faster.
Prior to this i was on streaming mode.
So i am sure i know what i am doing and have checked before posting this.
The order was submitted earlier and was not reflected.
That was why i went to the sgx site to check on the buy queue at least a good half hour before i wrote on this issue. (Ok, maybe can say sgx site is slow on quotations)
This issue is not new or constrained to GK counter only.
I don't think this is a specific poems only issue. Likely it is the main quotation site that is handling the buy/sell.
Because i did also use SCB to put in a buy trade before i did with poems, which was also not reflected.
My apology if it was mistaken. I can only comment base on what was posted, rather than guessing the story behind it.
CityFarmer Wrote:May be it is configured as steaming, rather than static (manual refresh needed). I am using it, and so far no similar issue too.
I know when i did the screen capture it was on static mode. So as to load the page faster.
Prior to this i was on streaming mode.
So i am sure i know what i am doing and have checked before posting this.
The order was submitted earlier and was not reflected.
That was why i went to the sgx site to check on the buy queue at least a good half hour before i wrote on this issue. (Ok, maybe can say sgx site is slow on quotations)
This issue is not new or constrained to GK counter only.
I don't think this is a specific poems only issue. Likely it is the main quotation site that is handling the buy/sell.
Because i did also use SCB to put in a buy trade before i did with poems, which was also not reflected.
My apology if it was mistaken. I can only comment base on what was posted, rather than guessing the story behind it.
You are too kind... and i see no need to apologise. I understand where you are coming from.
I feel the need to raise this because investors' interest needs to be addresed and if SGX want to encourage more people to trade in SG, they need to step up in their game.
Quite a good move - fills in the void before London comes in.
*************
1. At the annual London Bullion Market Association (LBMA) Bullion Market Forum held for the first time in Singapore today, Mr Lim Hng Kiang, Minister for Trade and Industry, announced a new exchange-traded Singapore Kilobar Gold Contract ( Contract ). This is the first wholesale 25 kilobar gold contract to be offered globally.
2. Expected to go live as early as September 2014, the Contract will introduce centralised trading and clearing of a physically-delivered gold contract in Singapore. With this Contract, global suppliers of gold are able to connect more effectively with their Asian clientele. The Contract comprises a series of six daily contracts, which will give physical users access to competitively-priced kilobars. The Contract is the result of a successful collaboration between International Enterprise (IE) Singapore, Singapore Bullion Market Association (SBMA), Singapore Exchange (SGX) and the World Gold Council. Representing the SBMA in this collaboration are four bullion banks, namely J.P. Morgan, Standard Chartered Bank, Standard Merchant Bank (Asia) Limited and The Bank of Nova Scotia.
3. Commenting on the significance of the announcement, Minister Lim said, With our close proximity to both demand and supply in Asia, I believe that Singapore is well-placed to support the bullion industry, with substantive mutual benefits. Our vision is that Asia can be a driving force to continue the growth of the bullion industry, and be a global leader in areas fundamental to the demand and trade in this region.
4. Asia s strong demand for physical gold is the key driver for the implementation of the Contract. The World Gold Council reports that, while global consumer demand for gold has increased nearly 50% over the last decade or so, demand for gold in South East Asia has increased by over 250% during the same period. The Contract is another significant development for Singapore following its exemption of Goods and Services Tax (GST) on investment precious metals (IPM) in October 2012. Metalor Technologies Singapore Pte Ltd (Metalor Technologies) is also officially opening its world class bullion manufacturing and refining facility in Singapore tomorrow, 26 June 2014. These initiatives are key building blocks in the country s drive to become a regional precious metals trading hub.
5. Albert Cheng, Far East Managing Director at the World Gold Council said, The global gold market continues to shift from west to east and Singapore s ambitions to become a gold hub reflect this trend. Since its inception, the World Gold Council has worked with key market participants to drive the development of this market. We believe this innovation will contribute substantially to the creation of a more efficient market capable of satisfying growing local demand for gold in a transparent and trusted manner - it will provide the foundation for further development of the gold market throughout South East Asia.
6. Gina Lim, Trade Services and Policy Group Director, IE Singapore, said, It has been a most rewarding journey with the gold industry, from when IE Singapore first engaged with them in 2011. Starting with the exemption of GST on investment precious metals and attracting Metalor to set up its refinery in Singapore, this unique wholesale kilobar gold contract is another milestone achieved in collaboration with the industry. IE Singapore had the privilege of working with key players like the World Gold Council, SBMA, the major bullion banks and SGX to enable this outcome. This Contract will provide the industry with a more efficient and transparent market, and enhance Singapore s infrastructure for precious metals trading.
7. Ng Cheng Thye, President, SBMA, added, This Contract will help to develop the gold market in South East Asia by creating greater liquidity and opportunities for growth. With a stock and flow of bars guaranteed by the major bullion banks, as well as an exchange open to the key buy-side participants, we believe this will encourage further products to be developed in South East Asia, which are based on this kilobar contract model.
8. Muthukrishnan Ramaswami, President, SGX shared, SGX is pleased to support the consortium's efforts to develop Singapore as a global trading hub for gold. SGX's market place will enable the trading and clearing of the Singapore Kilobar Gold Contract and establish a fully transparent price discovery mechanism for gold in this region. The new contract illustrates SGX s ongoing commitment in fostering greater market transparency in a well-governed and regulated framework within the Asian time-zone.
9. Since the exemption of GST on IPM in October 2012, trade in gold has risen by 94% year-on-year between 2012 and 2013 from S$18 billion to S$35 billion.
-------------------------------------------
ANNEX
CONTRACT FACTSHEET
Singapore Kilobar Gold Contract
The first exchange-traded physically-delivered 25 kilobar gold contract
Introduction
In 2012, the Singapore government announced its ambition for the city to become a precious metals trading hub in the region. The government removed GST from IPM in October 2012. Metalor Technologies subsequently announced its entry to Singapore in November 2012, and started operations in June 2013. It will officially open on 26 June 2014.
Singapore Kilobar Gold Contract
The establishment of a physical kilobar trading marketplace and an efficient trading platform are essential for Singapore to develop a more mature and efficient eco-system for the regional gold market.
The Singapore Kilobar Gold Contract will be traded on a centralised and transparent market where transactions are executed on a regulated platform by SGX. Supported by leading upstream and downstream industry players, the Contract will bring the kilobar to exactly where the market is Asia.
The first of its kind globally, the Singapore Kilobar Gold Contract is unique because:
Of its size, it is the first 25 kilobar contract to be offered to the market.
It is physical settlement only, largely for the gold industry.
It provides a series of six daily contracts, which will give physical gold users access to competitively-priced kilobars.
It is traded three hours in the morning at Asia time, prior to the opening of the London market.
It will be traded and cleared on SGX, who acts as a central counterparty.
(01-04-2014, 10:33 AM)arriyana Wrote: Why do you think the electricity futures will be hot in Singapore? Given that the volatility of electricity is fairly low in Singapore and there is no private house to stimulate electricity futures demand, I am not confident of the product.
(01-04-2014, 09:38 AM)CityFarmer Wrote: The futures will be as popular as hot cake, IMO.
I have vested in SGX, when it share fall below $6.8 recently.
(vested)
SGX plans to launch first electricity futures in Asia
The Singapore Exchange (SGX) is planning to launch the first electricity futures in Asia to provide a means for market participants in the Singapore electricity market to manage their risk exposures.
It is starting a public consultation on the proposed introduction of SGX Uniform Singapore Energy Price (Usep) quarterly base load electricity futures.
The futrues will be traded on its derivatives trading platform and cleared on its clearing house.
The contract will be a standard, cash-settled futures contract listed on a quarterly basis: January to March, April to June, July to September, and October to December.
I do have another view on this, currently singapore power generation companies are facing an over supply situation, prices are cap by the Energy market authority to maintain a relatively stable USEP prices. In the case of electricity futures , it will improve the volatilty and allow more liquidity through this platform for large users (commerical). IMO
SGX launches liquidity hub in Hong Kong
Singapore Exchange (SGX) today announced the launch of its liquidity hub at Hong Kong Exchanges and Clearing Limited’s (HKEx) Data Centre.
This initiative follows HKEx and SGX signing a memorandum of understanding in December 2013 to cooperate in several areas of common interest, including enhancing connectivity through points of presence in each other’s data centres.
HKEX's PE of 39x vs. SGX of 22x, what a difference...
Let's see whether SGX will catch-up in due course, to its comparable peer in the region...
(vested)
Hong Kong bourse beating SGX on Shanghai link
A rally in Hong Kong Exchanges & Clearing Ltd. is pushing valuations to the highest relative to its Singapore rival since April 2008 amid optimism for an equity link with Shanghai and as London Metal Exchange boosts earnings.
HKEx has surged 19%, with most the gains coming since Chinese Premier Li Keqiang on April 10 announced the cross-border trading plan, while the Hang Seng Index added 0.7%. Singapore Exchange is down 4.4% amid proposed restrictions on small-cap shares, while the Straits Times Index gained 3.9%.
HKEx’s rally drove its valuation to 39 times historic earnings yesterday, near the highest since February 2013, while the multiple for SGX fell to 22.4 from an August peak of 24.4 before the penny-stock crash, data compiled by Bloomberg show. The spread on July 14 was the widest since April 2008, the data showed. The two Asian financial hubs are competing to draw Chinese listings, add commodities and serve as yuan-trading centers.
“Hong Kong Exchanges stands out, with LME contributions and the connection to Shanghai providing a meaningful increase in trading volumes and profitability,” Harsh Wardhan Modi, an analyst at JPMorgan Chase & Co. in Singapore, said by phone on July 8. “For SGX, volumes collapsed after the penny-stock fiasco in October and hasn’t recovered.”
... http://www.theedgesingapore.com/the-dail...-link.html
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