General Announcement::News release: SGX to adjust equities market structure after supportive feedback

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
18-Jul-2017 17:41:18
Status
New
Announcement Sub Title
News release: SGX to adjust equities market structure after supportive feedback
Announcement Reference
SG170718OTHRNXZO
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) is proceeding with adjustments to the equities market structure after receiving largely supportive feedback during the public consultation process in March 2017.

Effective 13 November 2017, the equities market will break from 12.00pm to 1.00pm. In addition, the minimum bid size for relevant securities in the $1.00 to $1.99 price range will be increased to $0.01 from the current $0.005 and the forced order range for relevant securities will be widened to +/- 30 ticks from +/- 20 ticks. The adjustments are aimed at addressing market conditions while balancing the diverse objectives and interests of different segments of participants in the market ecosystem.

More than 40 respondents participated in the public consultation. A few respondents had alternative suggestions to the three adjustments proposed in the consultation. SGX gave due consideration to these suggestions and provided reasons in its "Responses to feedback to the public consultation" document [link] for proceeding with the proposals in the consultation.

"We would like to thank market participants for supporting the changes to the equities market structure. The midday break, increased minimum bid size and wider forced order range are the result of the collaborative approach the entire market ecosystem is committed to in enhancing our market. We will be monitoring the impact of these changes post-implementation," said Loh Boon Chye, CEO of SGX.

Attachments

20170718_SGX_to_adjust_equities_market_structure_after_supportive_feedback.pdf
Total size =52K