Singapore Exchange (SGX)

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The MTP will be introduced on 2 Mar 2015, but only effective one year later...

SGX on track for minimum trading price introduction

Singapore Exchange’s (SGX) introduction of a minimum trading price (MTP) for Mainboard companies is aimed at
improving the quality of the Singapore stock market; higher-priced shares have better liquidity, lowering
transaction cost for investors. Such shares are also less susceptible to speculation and market manipulation.
SGX will introduce MTP of S$0.20 a share on 2 March 2015. The MTP requirement will only be effective after a
one-year transition period ending on 1 March 2016, which means there is no immediate impact on companies.
The first batch of companies which do not comply with MTP then will enter the SGX watch-list. These companies
will have a 36-month period up to 28 February 2019 to comply. To do so, companies can consolidate their shares
thereby increasing their share prices. Other possible options are a transfer to Catalist which has no MTP
requirement, or taking other corporate actions
...
http://infopub.sgx.com/FileOpen/20150210...eID=334364
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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The head of Listing business, a key segment, has been appointed as head of China business. It means the focus is in China equity market...Big Grin

SGX appoints Lawrence Wong as head of China business
Singapore Exchange (SGX) has appointed Lawrence Wong, head of Listings, as the head of its China business. Mr.
Wong will have oversight of all of SGX’s China businesses, as part of the company’s expansion of its international
presence.
Mr. Wong will be responsible for building SGX’s business and relationships in China through exploring
opportunities across equities, bonds, derivatives and commodities. He will relocate to China, and will continue to
head the Listings business.
...
http://infopub.sgx.com/FileOpen/20150211...eID=334483
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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Some 1225 individuals have signed a letter dated 15/1/15 to DPM Tharman. TheEdge 663 edition (February 9 - February 15) reproduced the letter in full. The main points are:
1. Rebuilding trust in our markets and ensuring a level playing field for all
2. Creating a conducive environment for investing and trading
3. Maintaining the quality of our listings
4. Due consultation with various market participants
5. More effective surveillance and appropriate policy measures
6. Developing our fixed-income market
7. Investing CPF funds to provide adequate retirement funding
8. Reinstatement of lunch breaks

VB can borrow TheEdge from libraries.
The only way to avoid making mistakes is not to do anything. And that … will be the ultimate mistake. - Goh Keng Swee
A pessimist complains about the wind; an optimist expects it to change; the realist adjusts the sails. - W. A. Ward
Learn from the mistakes of others. You won't live long enough to make them all yourself. - Jane Bryant Quinn
人生最大錯誤,用健康換取身外之物。 ^ 人生无常,珍惜当下。 ^ 放弃固执,适时变通。 ^ 前面是绝路,希望在转角。

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http://www.singaporelawwatch.sg/slw/inde...medium=web

Remisiers write to Tharman to resolve issues plaguing market Share on facebook Share on twitter Share on email
Source
Business Times
Date
05 Feb 2015
AuthorR. Sivanithy
Widespread unhappiness sees more than 1,000 stock traders, investors put pen to paper asking for separation of SGX roles, restoration of trust in market

[Singapore] OVER 1,000 remisiers and investors have come together to appeal to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam to help them resolve a wide range of issues plaguing the industry.
...

[Edited by moderator: I assume no permission granted to reproduce in full. Anyway, those interested, can read the full letter in the link above]
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All this are good suggestions but personally i do not think SGX was the cause for lower revenue. It was the 2008 crisis that causes it.
Of Course the 3 pennies thrown a spanner later into the story but we have this sort of local crashes on and off. So i doubt they alone can move the market. Nevertheless implementation appears to be more for better governance that he can consider. However if they hope it will fixed the market revenue, unlikely imo. It can take decades for market to forget with new generation of investors for world event like 2008. In technological age maybe faster. Who knows ? At the meantime I would stay invested till it happens.

Just my Diary
corylogics.blogspot.com/


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News in the market about SGX are not so favourable for sometimes already. So can anyone explain why SGX price is inching up quite strongly instead of staying flat or down. Dividend play or SGX is expanding business into CHINA or what?
Vested:- 3 lots only
WB:-

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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To balance the view, here are the SGX and SIAS responses to the letter. Big Grin

Singapore market starting to find its feet: SGX
SINGAPORE: Singapore Exchange’s (SGX) Executive Vice President Chew Sutat on Thursday (Feb 6) debunked claims of issues plaguing the industry.

In an interview with Channel NewsAsia, Mr Chew said SGX has performed better than its counterparts in Hong Kong and Japan in the last 10 years.

More than a thousand remisiers and investors had written a letter to Finance Minister Tharman Shanmugaratnam in January, asking for help in resolving the alleged issues. They pointed out that annual trading volume on SGX had fallen 26 per cent over the past five years, saying that it was due to a loss of investor confidence in the bourse.

In response, Mr Chew said: “On the performance of the market, the STI index delivered a 9.5 per cent return last year, which is fantastic. Over the last 10 years, it is an average of 8.7 per cent – better than Hang Seng at 6.6 per cent, the US markets at 5 per cent and Tokyo at 2.5 per cent.

"If we look at market volumes, the last three months we have seen 20 per cent year-on-year growth. So I think the market is starting to find its feet, it is doing well in terms of investor returns and in terms of participation for all segments of the market."

One way to boost trading volume in SGX is perhaps to attract the billion-dollar IPO listings, and Mr Chew said the exchange would love to see more of such listings - but this has to be seen in the right perspective.

"The market capitalisation in Singapore has grown six per cent year-on-year to almost S$1 trillion. I think that is a pretty good measure on the performance of the capital market here. Over and above that, we had 42 listings last year, not just local SMEs... We have had some very strong international listings that have come to Singapore as well," he said.

Mr Chew added that SGX "would love to have" some of Singapore's large GLCs (Government-linked companies), who are private right now, come in to the market.

Another concern for investors was the two major outages that affected the bourse last year. Mr Chew said that while it did not affect investor confidence in the bourse, the outages "should not have happened".

"We have taken steps to address the matter and of course, we hope that it does not repeat itself again," he added.
http://www.channelnewsasia.com/news/busi...41052.html

Remisiers Face Changing Retail Investor Profile: SIAS
We refer to the article published in Business Times 5 February “Remisiers write to Tharman to resolve issues plaguing market” by R Sivanithy.

SIAS is aware of the plight of remisiers in the current low trading volume market environment. While there is room for improvement in our market, such as overcoming the issues surrounding several S-Chips sagas e.g. China Sky, that have caused many retails investors to suffer, retail investors also are looking for advice, investment ideas and opportunities from remisiers to help them grow their monies. These tend to be the older investors who depend on their remisier to execute their trades.
Whist it is important to continue to build confidence in our market, it should done prudently and not encourage excessive risk and speculation. For example, the suggestion to transfer long-suspended stocks with governance issues to a third high-risk board and allow trading with cash up-front would only drive speculation as there is insufficient transparency and information for a fair and orderly market to operate.

SIAS is also not in favour of increasing the limit of 35 to 80 percent of CPF Ordinary Account for investment in equities because retirement funds should not be exposed to excessive risk. Nevertheless, SIAS does agree that there is a need to raise the quality bar for CPF Trustee stocks to ensure that only stocks of quality investible standards are included as the CPF investment scheme is designed to help fund Singaporeans’ retirement savings. A more active review of the list of stocks and timely alerts to retail investors using their CPF funds to invest in these equities should be implemented.

SIAS also agrees on the proposals for better rules for short selling disclosures, calling for a review on regulations for sophisticated instruments, the need to providing the market with regular updates on on-going investigations and the call to separate SGX’s commercial and regulatory roles, of which, some are already under review. Currently, it is common practice for SGX and MAS to seek public consultation and obtain feedback from all stakeholders on any policy and rule changes rather than have an independent committee to review policy changes. This provides the opportunity for all stakeholders to have their say and, therefore, it should continue.

One possible reason for the unhappiness faced by remisiers is heightened today by the shift in the investor profile. The fact that almost one third of new CDP accounts holders are under 25, who tend to favour online trading versus dealing with remisiers, could also explain the plight of the remisiers today.

SIAS hopes that with initiatives like the reduction of the board lot size to 100 from 1000, the initiatives by SGX like the introduction of StockFacts, SGX Mobile App and retail education efforts, conducted in collaboration with SIAS, would continue to improve participation in our market.

David Gerald
President & CEO
Securities Investors Association (Singapore)
http://sias.org.sg/index.php?option=com_...43&lang=en
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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CEO stepping down finally in end June.

SGX CEO Bocker leaving end June
The SGX Board of Directors wishes to announce that Mr Magnus Bocker, the CEO, has notified that he is not seeking extension of his appointment beyond his current contract, which will be completed on 30 June 2015. He has been the CEO of SGX since 1 December 2009
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
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(20-02-2015, 04:16 PM)Temperament Wrote: News in the market about SGX are not so favorable for sometimes already. So can anyone explain why SGX price is inching up quite strongly instead of staying flat or down. Dividend play or SGX is expanding business into CHINA or what?
Vested:- 3 lots only

Hi Temperament,

Could this be the reason >> http://www.channelnewsasia.com/news/sing...77350.html
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(24-02-2015, 07:09 PM)cfa Wrote: CEO stepping down finally in end June.

SGX CEO Bocker leaving end June
The SGX Board of Directors wishes to announce that Mr Magnus Bocker, the CEO, has notified that he is not seeking extension of his appointment beyond his current contract, which will be completed on 30 June 2015. He has been the CEO of SGX since 1 December 2009

This is the greatest news I've heard for 2015, Cheers~~~!
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