Singapore Exchange (SGX)

[BlueKelah]

NYSE Suspends Trading in All Securities
Investors were forced to steer orders away from the New York Stock Exchange as the biggest U.S. share venue halted trading to fix a computer malfunction.

The suspension, announced to securities firms through notices on the NYSE website around 11:32 a.m., dropped the biggest U.S. share platform out of the interconnected network of venues that make up the American equity market...........
=========================================================
haha looks like SGX is not too bad after all, USA side also can have technical faults...

[opmi]

the NYSE trading network is like the Internet. One node down, the trades are routed to other ECNs.
Trading kept going.

[CityFarmer]

the NYSE trading network is like the Internet. One node down, the trades are routed to other ECNs.
Trading kept going.

Singapore is too small, for another stock exchange, to route, when one is malfunction. Yes, it is a disadvantage been a city country.

[greengiraffe]

Subject: Fw: (BN) Singapore Banker Faces Uphill Battle in Boosting SGX Trading
________________________________________



Singapore Banker Faces Uphill Battle in Boosting SGX Trading
2015-07-12 16:00:01.1 GMT


By Jonathan Burgos and Chanyaporn Chanjaroen
(Bloomberg) -- When Loh Boon Chye left the board of
Singapore Exchange Ltd. in 2012, equity trading volume on the
city’s bourse had been steadily dwindling for years.
On Tuesday, the veteran Singaporean banker returns to the
exchange’s recently-renovated downtown offices as its new chief
executive. He will soon have to confront an issue that’s more
acute than ever -- in the intervening period, the average daily
value of equities traded kept dropping. Turnover on Singapore’s
bourse in 2015 has been 95 percent lower than in Hong Kong.
Loh will need to summon management skills honed over more
than two decades in international banking to revive the market
and appease Singapore’s brokers, who say SGX’s top executives
neglected domestic equity trading to focus on developing new
derivative contracts.
“They’ve been pushing for the derivatives business because
that’s where the growth is,” said Jimmy Ho, president of the
Society of Remisiers, which represents Singapore’s commission-
based stockbrokers. “They’ve forgotten about the stock
market.”
Share trading in the city has stagnated largely due to the
dearth of new offerings. Only three companies have listed in
Singapore so far this year, at a time when Shanghai and Hong
Kong have seen a flood of initial public offerings.
Investor sentiment has also yet to recover from an
unexplained $6.9 billion plunge in the value of three commodity
companies over three trading days in October 2013, which sapped
confidence in the market. Last month, SGX was reprimanded by the
Monetary Authority of Singapore over two trading outages in 2014
that forced then-CEO Magnus Bocker to make a public apology.

Well Qualified

Those who know Loh from his stints at Deutsche Bank AG and
then Bank of America Corp. say he is well qualified to deal with
the challenges he will face in his new job, even if the task of
reviving local share trading is daunting.
“At SGX, he’ll have a lot of different constituents he’ll
have to deal with, who have different needs and aspirations,”
said Philip Lee, vice chairman of Southeast Asia at Deutsche
Bank. “The ability to have empathy and connect with others will
stand him in good stead. He’s always very calm, he’s never
flustered even in the most demanding situation so he’s therefore
able to make rational decisions.”
Loh’s success in building up Deutsche Bank’s fixed income
business when he was head of Asian global markets between 2002
and 2010 illustrated some of the skills he will bring to
reviving the SGX business, said Mark Leahy, who worked for Loh
as head of Asia debt syndication during much of that period.

Real Talent

“This was his first ‘long ball’ or taking a long term
perspective on the region’s opportunities,” Leahy said.
“Having this perspective is one thing but driving the essential
internal consensus and support for the strategy during hard
times is the real talent.”
With Chinese markets now in turmoil, Loh will need to
decide whether to push ahead with attempts to attract more
listings from mainland companies. SGX in February appointed one
of its most senior executives, Lawrence Wong, to lead
initiatives to build its China business, which lags well behind
the Hong Kong market.
Companies have raised about $8 billion from more than 50
IPOs in Hong Kong so far this year, according to data compiled
by Bloomberg. That, along with the city’s standing as the main
gateway for foreign equity investors into China, helps explain
why $16.4 billion of shares changed hands each day in Hong Kong
on average, compared with $857 million in Singapore.

Derivatives Success

“Our local bourse has lost some of its luster in recent
years, largely because IPO aspirants do not enjoy such favorable
valuations in Singapore,” said Stefanie Yuen Thio, who handles
IPOs and mergers and acquisitions at the Singapore-based legal
firm TSMP Law Corp. “With listings being increasingly regulated
and post-listing compliance costs going up, the argument for
listing in Singapore has become less compelling.”
As well as attempting to revive trading in Singapore
equities, Loh will need to continue to build on the SGX’s recent
success in developing its new derivatives contracts, seen as one
of the major achievements of his predecessor Bocker’s 5 1/2-year
tenure. The most successful contracts are Chinese and Japanese
index futures, used by institutional investors to speculate or
to hedge other positions.
Both SGX and Loh declined to comment on the exchange’s
future strategy.
Derivatives trading accounted for 30 percent of SGX’s
revenue in the year to June 2014, up from 26 percent two years
earlier. The proportion of revenue from equities dropped to 33
percent from 38 percent over the same span. SGX is due to report
its latest full-year results on July 29.

Challenging Business

“The equities business remains challenging,” Julian Chua,
an analyst at Nomura Holdings Inc. in Kuala Lumpur, said by
phone. “They need to get more regional companies to list on
SGX, though companies may not be keen to list at this stage
given the difficult macroeconomic environment.”
Even if Loh manages to revive the IPO business in
Singapore, he still needs to address the lingering concerns over
recent trading scandals, according to the Securities Investors
Association of Singapore, the largest investor lobby group in
Asia. Those include the sudden drop in small commodities stocks
in 2013 as well as debt defaults and accounting irregularities
that saw a number of Chinese companies delisted or suspended
from the SGX.
“Many Singaporeans do not invest in stocks anymore for
fear of losing their money,” David Gerald, president of SIAS,
said by phone. “They fear they would lose their savings so
they’re keeping it in bank deposits even when interest rates are
very low.”
Some doubt that, for all his qualifications, Loh will be
able to overcome this fundamental distrust.
“The public has lost faith,” said Narayanan Narayanan, an
87-year-old retired stockbroker. “It’s going to be difficult
even with a new guy in charge.”

For Related News and Information:
SGX Tallies Cost of Disruptions After Regulator’s Reprimand (3)
Singapore’s Bourse Names Loh Boon Chye CEO, Replacing Bocker (1)
SGX’s Bocker Starts Sixth Year by Saying Sorry: Southeast Asia
Singapore Stocks to Extend Region’s Biggest Rout: Southeast Asia

Top Stocks News: TOPD <GO>
Developed Market View: DMMV <GO>
Feature stories on stocks: TNI STK GREET <GO>

--With assistance from Joyce Koh and Andrea Tan in Singapore and
Darren Boey in Hong Kong.

To contact the reporters on this story:
Jonathan Burgos in Singapore at +65-6212-1156 or
jburgos4@bloomberg.net;
Chanyaporn Chanjaroen in Singapore at +65-6499-2837 or
cchanjaroen@bloomberg.net
To contact the editors responsible for this story:
Marcus Wright at +65-6499-2613 or
mwright115@bloomberg.net;
Sarah McDonald at +61-2-9777-8684 or
smcdonald23@bloomberg.net
Sarah McDonald

[CityFarmer]

More oversea REITs will come...

China's Hony Capital keen to explore REITs listings on SGX

SINGAPORE (July 21): Hony Capital, a major Chinese private equity firm that counts Temasek and GIC among its investors, is keen to explore ways to work with the Singapore Exchange (SGX) ( Financial Dashboard) in securitisation products, The Business Times reported on Tuesday, citing the firm's chief executive.

Chief executive John Zhao said on the sidelines of the FutureChina Global Forum on Monday that he plans to kick-start talks with SGX, noting that there are many Chinese companies with real estate assets such as hospitals, offices and hotels that are ready for securitisation.
http://www.theedgemarkets.com/sg/article...ings-sgx-0

[CityFarmer]

SGX will is no longer unique for derivative trading...

MAS says reviewing SGX’s oversight of markets

SINGAPORE (July 21): The Monetary Authority of Singapore said it is reviewing the regulatory role of Singapore Exchange Ltd ( Financial Dashboard). as global bourses expand in the city-state.

The central bank and SGX are looking at how they split up duties in areas including listing and surveillance, according to MAS.

Deutsche Boerse AG said last month its unit, Eurex Exchange Asia, will open a derivatives exchange in Singapore in the second quarter of 2016. Intercontinental Exchange Inc., which bought the Singapore Mercantile Exchange for US$150 million (S$205,600) in February 2014, plans to start futures trading in Singapore later this year following delays.
...
http://www.theedgemarkets.com/sg/article...ht-markets

[CityFarmer]

What does it mean for SGX?

(not vested)

Deutsche Boerse gets go-ahead for Singapore clearing

LONDON (July 22): Deutsche Boerse has won final approval to run a clearinghouse in Singapore, bringing the company a step closer to opening a derivatives exchange in Asia.

The Monetary Authority of Singapore approved Eurex Clearing Asia to clear equity, bond and currency futures, the city-state’s financial regulator said in a statement on Monday. MAS is still considering an application for Eurex Exchange Asia, which Deutsche Boerse plans to open in the second quarter of 2016.
...
http://www.theedgemarkets.com/sg/article...e-clearing

[CityFarmer]

The FY2015 full year EPS grows 8-9% y-o-y, amid the "pathetic" securities market. Hmm... not bad indeed...

(not vested)

SGX’s 4Q earnings leap 24.3% to $96.2 mil

SINGAPORE (July 29): The Singapore Exchange saw a 24.3% rise in earnings to $96.2 million for the 4Q ended June 30, 2015, from $77.4 million in the previous corresponding quarter.

This came in below Bloomberg’s consensus estimates of $98.3 million.

Operating revenue grew 24.9% to $215.6 million from $172.6 million a year ago.

For the full-year, earnings rose 9% to $348.6 million versus $320.4 million the previous year, while operating revenue jumped 13.4% to $778.9 million from $686.9 million previously.

SGX ( Financial Dashboard)’s full-year earnings per share stood higher at 32.6 cents, up from 30.0 cents last year.
...
http://www.theedgemarkets.com/sg/article...43-962-mil

[CityFarmer]

SGX Academy programmes is enhanced, and good for investors...

SGX and CBOE to jointly develop and conduct classes for investors on options trading for investors

SINGAPORE (July 30): Singapore Exchange and the Chicago Board Options Exchange (CBOE), the largest US options exchange and creator of listed options, have signed a collaboration agreement to develop and conduct educational programmes for investors on the effective use of options trading and risk management strategies.

The educational collaboration, named CBOE Options Institute at SGX, will be part of SGX Academy and will launch in Singapore in the fourth quarter of 2015. It will be the first international extension of the CBOE Options Institute, the educational arm of the CBOE. The collaboration will incorporate the latest in options trading education from CBOE into SGX Academy programmes. CBOE will also provide knowledge transfer to SGX Academy trainers to enable such programmes to be offered over the long term.

The collaboration is an extension of SGX’s ongoing investor education initiative and supports its objective of enhancing both retail and institutional investor understanding of the evolving securities market and products available to them.

Edward T. Tilly, CEO of CBOE Holdings, says: “CBOE’s Options Institute continues to grow and we are pleased to collaborate with SGX given its connectivity with investors across Asia and its track record and commitment to ongoing investor education.”
http://www.theedgemarkets.com/sg/article...-investors

[CityFarmer]

More transparency in bond prices...

SGX introduces evaluation bond prices

SINGAPORE (Aug 3): Singapore Exchange (SGX) ( Financial Dashboard) has introduced evaluated bond prices on its website to provide independent evaluations of SGX-listed debt securities.

Bonds are generally traded over the counter (OTC) so there is a lack of public price information.

The evaluated bond prices will provide a reference point for both bond issuers and investors and help in their assessment of debt securities, SGX says on Monday.

The end-of-day evaluations are published on a one-day delayed basis at www.sgx.com/evaluatedbondprice

SGX has more than 1,900 bonds listed by issuers from more than 30 countries.
http://www.theedgemarkets.com/sg/article...ond-prices