General Announcement::SGX launches new securities settlement and depository system

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
13-Nov-2018 17:16:05
Status
New
Announcement Sub Title
SGX launches new securities settlement and depository system
Announcement Reference
SG181113OTHRETT9
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) will be launching a new securities settlement and depository framework and system on 10 December 2018, enabling a shorter securities settlement cycle of two days (T+2) and simultaneous settlement of money and securities.

"Come 10 December, we will align our securities clearing and settlement processes with global standards, strengthening Singapore's position as an international financial centre. With the new settlement and depository framework, securities and funds will be made available to investors earlier, while reducing risks across systems and markets. Our new system will also enable us and our securities members to enhance services for the market," said Chew Sutat, Executive Vice President and Head of Equities and Fixed Income, SGX.

Moving from a T+3 to a T+2 settlement cycle will harmonise Singapore's stock market with that of global markets including Australia, the European Union, Hong Kong and the US. Other improvements that investors can expect include the simultaneous settlement of securities and money, and the streamlining of Central Depository Pte Ltd (CDP) notifications.

In addition, the new settlement and depository system will allow a broker-linked balance functionality to be made available to investors. This functionality allows investors to give their chosen brokers visibility over specific securities. This will provide brokers the ability to offer more personalised products and services to their clients.

Details of the earlier public consultation can be found here, while feedback and SGX's responses are found here. A list of frequently-asked questions is published here.

Attachments

20181113_SGX_launches_new_securities_settlement_and_depository_system.pdf
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