Singapore Exchange (SGX) Thursday announced that it will improve its securities market opening and closing routines to enhance transparency and trading safeguards.
SGX said that from September 26, real-time indicative equilibrium prices will be published during the opening and closing routines. Also from that date, there will be a random ending to the pre-open and pre-close phases of the opening and closing routines.
The exchange added that it will also improve trading functionalities available to market participants from September 26. Following the launch of its Reach trading engine last month, SGX will offer new order types, allowing investors more flexibility in the execution of their orders, it said. These order types are “Market on Open and Market on Close (both market orders and market-to-limit orders)” and “Session State Orders”.
Gan Seow Ann, President of SGX, said: “We are pleased to be able to better meet customers’ need for increased transparency, richer functionalities, greater capacity, and improved latency with these initiatives. Improvement and innovation are necessary to enhance Singapore’s edge as a leading financial centre. We will continue to offer new market features and initiatives for the benefit of all market participants.”