Singapore Exchange (SGX)

[CityFarmer]

Do you guys feels that the market becoming more volatile since the 1 lots=100 shares started?

Not really... I think the volatility is due to global economic news more than anything else.

They'll need to remove minimum commissions across the board for brokerages. The corresponding increase in volume should more than make up for the additional work load for the brokers.

Agree! Please remove the minimum commissions...

The remisers will scream laughter with the proposal...

[lanina1]

Do you guys feels that the market becoming more volatile since the 1 lots=100 shares started?

Not really... I think the volatility is due to global economic news more than anything else.

They'll need to remove minimum commissions across the board for brokerages. The corresponding increase in volume should more than make up for the additional work load for the brokers.

Agree, but considering most of the market have min brokage fee, a reduction of min fee from $25 to like $10 or $5 is more reasonable at 1st stage. This will encourage ppl to queue buy/sell orders therefore increase liquidity and increasing volume in the long run.

The min lot size of 100 did help small retail investors with bluechips. BUT, without reduction of min brokerage fee, the already very low volume - small cap's volume will even getting lower cos people are scared to get hit by 100 shares, and pay very high brokerage fee in terms of percentage. This is typical one of the SGX's new meatures which they think can help the market but in reality make things worse in other ways.

[CityFarmer]

SGX named a professional in white-collar crime to be Chief Regulatory Officer. It is a strong signal, "don't play-play" with SGX...

SGX names Tan Boon Gin as new Chief Regulatory Officer

Singapore Exchange (SGX) is pleased to announce the appointment of Tan Boon Gin as Chief Regulatory Officer
effective 15 June 2015. Mr Tan is currently Director of the Commercial Affairs Department.
...
http://infopub.sgx.com/FileOpen/20150227...eID=336604

[CityFarmer]

The low market volume affecting not only on remisers, but also investment bankers across the board. Singapore market is indeed pretty bad as far as these people are concern...

Goldman said to cut Singapore investment bank jobs by 30%

SINGAPORE (Mar 2): Goldman Sachs Group Inc. is reducing the size of its investment-banking team in Singapore by about 30% compared with the start of the year, people with knowledge of the matter said.

Ruben Bhagobati, Goldman Sachs’s head of Southeast Asia mergers and acquisitions, and Singapore-based managing director Antoine Izard are among those departing the firm, according to the people. About 15 people are leaving or have left the investment-banking team in Singapore since the beginning of January, the people said, asking not to be identified discussing confidential information.

The reductions go beyond the normal annual culling of underperformers, one of the people said. Goldman Sachs joins Standard Chartered Plc, CIMB Group Holdings Bhd. ( Financial Dashboard) and Nomura Holdings Inc. (Financial Dashboard) in cutting staff in Asia as tougher regulations and higher capital requirements put pressure on financial firms globally.

Hsin Yue Yong, Goldman Sachs’s head of investment banking for Southeast Asia, decided to leave the firm by the end of February, according to an internal memo obtained by Bloomberg News last month. Tim Leissner, who relocated to Singapore last year to be Southeast Asia chairman, will work closely with Singapore-based partners Michael Smith and Dan Swift after Yong’s departure, the Feb. 9 memo shows.

Edward Naylor, a Hong Kong-based spokesman for Goldman Sachs, declined to comment. Bhagobati declined to comment in a mobile-phone text message, while Izard didn’t immediately respond to a phone call and e-mail seeking comment.
...
http://www.theedgemarkets.com/sg/article...nk-jobs-30

[CityFarmer]

Will it help for SGX? May be, but I really doubt it will help much...

Japan, Singapore, Taiwan forges new bourse connections: WSJ

SINGAPORE (Mar 3): The stock exchanges of Japan, Singapore and Taiwan are exploring new connections in an effort to drive up volumes in the face of greater competition from the Hong Kong and Shanghai stock exchanges, reported The Wall Street Journal.

The move comes after the launch of the Shanghai-Hong Kong Stock Connect link last November unseated Japan Exchange as Asia’s biggest by market capitalisation.

“Aided by a 53% rally in the Shanghai Composite last year, the combined stock market has a larger market capitalisation than any in Asia, according to data from the World Federation of Exchanges,” said the Wall Street Journal.

A month after the launch of Stock Connect, Japan Exchange, which operates the Tokyo and Osaka stock exchanges, signed an agreement with SGX to jointly develop their markets.

From April, both will offer a new co-location service to cut the costs and time delays when trading on each other’s exchanges, said the report.

JPX is also expected to explore collaboration in commodities with Singapore and developing Topix derivative products.

Meanwhile, the Taiwan Stock Exchange is seeking partners for mutual market access. The bourse is in also early discussions with Japan Exchange over launching cross-border products.

Taiwan’s exchange has also begun studying a stock-trading link with the SGX, which it expects to begin this year, said the Wall Street Journal.
http://www.theedgemarkets.com/sg/article...ctions-wsj

[weijian]

Will it help for SGX? May be, but I really doubt it will help much...

Japan, Singapore, Taiwan forges new bourse connections: WSJ

The HK-Shanghai stock connect is unique because China is a closed system (or controlled one) and the stock connect act as a new outlet for new liquidity to follow through. For JST (Japan, Singapore, Taiwan), these 3 countries are already pretty open and I share your doubt. More importantly, HK-Shanghai stock connect is still in its infant stage and it remains to be seen whether such stock connects will turn out to be good on an aggregate basis in future. It may even produce unintended negative secondary effects in the mid/longer term.

[CityFarmer]

Japan "hot" money is flowing into Singapore capital market, after the massive QQE. Singapore $ is still a safe haven, i reckon.

Debt market is the one focus now. Will it go into equity market soon? I hope so...

(vested)

Singapore yield luring yen after topping US debt

SINGAPORE (March 6): Singapore isn’t just a destination for Japanese tourists. It’s now becoming one for bond investors.

Ten-year yields of 2.33 percent were 21 basis points more than same-maturity Treasuries, and the premium reached a 16-year high of 33 basis points in February.

The island-state’s yields came within 16 basis points of Australia’s last month.

Japanese investors plowed a record 42.2 billion yen (US$352 million) into Singapore bonds in January, up 129 percent from a year earlier, Investment Trusts Association of Japan data show.

Japanese investors’ hunger for overseas yields is growing as central bank buying crowds them out of their own sovereign debt market.

Bank of Japan holdings now exceed 20 percent of available bonds, pushing 10-year yields down to 0.4 percent and five-year yields to below 0.1 percent.

The shift may add to the weakness in yen, which has slumped 22 percent in two years.

“Yields are getting more attractive in Singapore,” said Hideo Shimomura, the chief fund investor in Tokyo at Mitsubishi UFJ Asset Management, which oversees US$67.3 billion.

“In Singapore, we only have a little exposure. There’s a lot of room to invest. Japanese investors will be entering this market.”

Singapore yields will probably climb past Australia’s in the next few months as the South Pacific nation cuts interest rates, he said.
...
http://www.theedgemarkets.com/sg/article...ng-us-debt

[CityFarmer]

More update on SGX venture into the Greater China...

SGX deepens presence in Greater China

Singapore Exchange (SGX) today opened its new Hong Kong office, which is registered as Singapore Exchange
Derivatives Trading Limited (SGX-DT). Mr. Chew Sutat, Executive Vice President of SGX, hosted the office opening
and reiterated SGX’s continued focus and commitment to its operations in Greater China.
“With its strategic location to China and Taiwan, Hong Kong is an integral part of SGX’s Greater China strategy,”
he commented. “We have been working closely with our local partners in contributing to the development of
Hong Kong’s derivatives market.”
Since its opening in July 2014, SGX’s Hong Kong operations have registered positive growth in both traded
volumes and members, including China Xin Yongan Futures Co., Ltd and Celestial Commodities Limited. In
particular, the flagship SGX FTSE China A50 Index Futures has continuously achieved record-breaking success in
both volume and open interests. It reached new highs with its single day volume of 594,551 contracts and an
open interest record of 591,501 contracts in January 2015.
...
http://infopub.sgx.com/FileOpen/20150309...eID=337891

[CityFarmer]

More on derivative market. More Asian currency futures contracts available in the exchange, and early talks for regional rubber bourse...

Singapore Exchange in early talks for regional rubber bourse - sources
SINGAPORE (March 10): The Singapore Exchange (SGX) ( Financial Dashboard) is in preliminary talks to be part of a regional rubber exchange that would bring together the top three producing nations, industry sources said.

SGX held a meeting late last month with the International Tripartite Rubber Council (ITRC), an industry body comprising Thailand, Indonesia and Malaysia, which together produce 70 percent of the world's rubber.

The meeting came three months after ITRC said it was studying a plan to set up a regional exchange to facilitate hedging and easy trade for the different rubber grades, amid a tumble in prices of the commodity to five-year lows.
...
http://www.theedgemarkets.com/sg/article...se-sources

SGX expands FX footprint with new Asian currency futures
SINGAPORE (Mar 10): Singapore Exchange (SGX) ( Financial Dashboard) announced today that it will add new Asian currency futures contracts on the Taiwanese dollar (TWD/USD) and Renminbi crosses (SGD/CNH, CNY/SGD, EUR/CNH) to expand its current suit of foreign exchange (FX) futures in the third quarter of 2015, subject to regulatory approval.
...
http://www.theedgemarkets.com/sg/article...cy-futures

[a74henry]

Volatility - a boon for SGX