Singapore Exchange (SGX)

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
#81
(18-10-2013, 09:27 PM)CY09 Wrote: It seems SGX securities clearing revenue can be a gauge for investor sentiment in the market. The higher the revenue due to higher retail participation, the more bullish is Mr Market.

Perhaps SGX securities clearing revenue can act as a bullish/bearish indicator. After all, retailers tend to be the "last ones at the party"

Are retail participation statistics published by SGX on a daily/monthly/quarterly basis? Looking through its most recent AR13, i was only able to find SGX stating that retail participation rosed from 40% to 48% (pg17). The closest inference i can find to retail participation is perhaps the %of block trades (>1.5mil) that is been published in the quarterly reports. Together with DAV (Daily average value), that may give investors a 'feel' of how the retail bullish mood is.
Reply
#82
SGX is working hard on its commodity products offering...

Singapore Exchange to develop commodity products with Shanghai Futures

SINGAPORE – The Singapore Exchange Ltd (SGX) said Monday it is to develop commodity derivatives with the Shanghai Futures Exchange for both markets.

The two will collaborate on derivatives for energy, metals, chemicals and commodity indexes, it said in a statement, without giving further detail.

The Shanghai Futures Exchange, China’s biggest futures market, trades base metals, precious metals, steel products, oil products and natural rubber.

The SGX is the dominant exchange for clearing of iron ore swaps, seen as under threat from China’s first iron ore futures contract launched last week on the Dalian Commodity Exchange.

The iron ore instrument is the fourth commodities futures product that China has launched this year as the country seeks more pricing power in commodities of which it is the biggest consumer and speeds up development of its financial markets.

Zhengzhou Commodity Exchange, the country’s third commodity futures exchange, has recently got the green light for two more rice futures contracts. REUTERS
http://www.todayonline.com/business/sing...ai-futures
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
#83
SGX's CEO is working hard...

SGX seeks high-frequency traders

Singapore Exchange, Southeast Asia’s biggest bourse operator, wants to lure more high-speed traders onto its stock market as it grapples with lower volume.

Computerized trading firms, which execute transactions in fractions of a second, account for a negligible share of volume on Singapore Exchange’s cash equities market, according to bourse spokeswoman Loh Wei Ling, while they contribute 30% of revenue from derivatives. Singapore Exchange will seek to change that once it introduces safeguards, Chief Executive Officer Magnus Bocker said at a briefing this month.

“We will pursue high-frequency trading once we have circuit breakers and other policies in place,” he said. “That will enhance the liquidity and quality of the Singapore market.”

High-frequency traders facilitate the majority of US equity transactions, where computerized firms have ample opportunity to profit from fleeting price discrepancies because transactions take place on more than 50 venues. Singapore isn’t as fragmented, which keeps computer traders away. Credit Suisse Group AG and Tabb Group LLC said the city’s relatively high trading and clearing fees also deter those firms.

Bocker is seeking more business with the daily average value of equity trades down to about $1.5 billion this year, a 36% plunge from 2007, according to data compiled by Bloomberg. Singapore Exchange’s net income was $336 million for the fiscal year that ended in June, 20% lower than fiscal 2007.

‘Pretty Substantial’
He’s been building the infrastructure and regulatory framework to attract high-speed traders. The bourse rolled out a $250 million trading platform in August 2011 that can execute transactions in 90 microseconds.

The exchange hasn’t been successful in attracting orders from the fastest traders because of the high cost of trading in the city, according to Credit Suisse and Tabb Group.

“There is a pretty substantial clearing fee in Singapore that will stop many of the largest high-frequency traders,” said Larry Tabb, founder and CEO of New York-based market research firm Tabb Group. “The exchange fabric isn’t fragmented, so that there will never be the kind of high- frequency trading that we see in the US and or Europe in Singapore.”

Fees for trading on the Singapore bourse amount to about 20 basis points, or 0.2% of the value of shares traded, according to data compiled by Credit Suisse. That compares with Sydney-based ASX’s 15 basis points, the data show.

Speed Limits
“If SGX is serious about high-frequency trading, it could change its fee structure to encourage more high-frequency trading,” said Arjan Van Veen, a Hong Kong-based analyst at Credit Suisse.

Australia, Hong Kong and Singapore have considered the extent to which trading strategies that rely on speedy placement of bids and offers should be regulated amid concern that they can be used to manipulate prices. Germany was the first developed market to legislate the practice, and the European Parliament is pushing for tougher rules.

While circuit breakers provide the market a mechanism to take a pause during times of extreme market volatility, allowing high-frequency traders will introduce unfamiliar risks to investors, according to Securities Investors Association of Singapore, the largest investor lobbying group in Asia.

Good, Dangerous
“A knife is good as well as dangerous,” said David Gerald, president of SIAS. “The exchange and manufacturers of products will put out products to improve their bottom line. Investors must know the risks and decide for themselves whether they want to invest or not. There are many products out there which are very risky and investors have to be educated on the risks and they must make an informed decision.”

One of the hallmarks of high-speed trading has already arrived in Singapore. The bourse has about 100 clients that house their trading computers near the exchange’s servers, an arrangement known as co-location, spokeswoman Loh said. That lets them speed up trading by cutting reaction times.

“We have said in the past that high-frequency trading accounts for roughly 30% of our derivatives market,” Loh said. “SGX has announced previously that we will enhance market safeguards before opening up the cash equities market for high- frequency trading. These include random opening and closing routines, pre-trade risk controls and circuit breakers.”

Trading Safeguards
Regulators worldwide have evaluated safeguards since the May 2010 plunge known as the flash crash briefly erased about $862 billion from the value of US equities. Exchanges in that country have since implemented a limit-up/limit-down initiative that prevents market makers from quoting shares at prices deemed too far above or below current levels.

SGX will introduce circuit breakers by early next year after a plunge in shares of three commodity companies erased US$6.9 billion in market value over three days, the bourse operator said on Oct 10. Under the proposal, trading of a stock will be halted for five minutes if it moves 10% in either direction, the bourse said.

Since becoming CEO in December 2009, Bocker scrapped the midday trading break and introduced dual listings of American Depositary Receipts at SGX to boost profits. Brokerages are turning less bearish on the company, with the number of sell recommendations at the lowest since 2011, according to data compiled by Bloomberg.

Getting high-speed traders to operate in Singapore will improve liquidity and market efficiency, Tabb said.

“The more liquidity and the more trading generally makes the market better, lowers trading cost and helps smaller investors,” Tabb said. “Generally, it doesn’t make the market more risky unless it becomes as complex and fragmented as the US market.”
http://www.theedgesingapore.com/the-dail...aders.html
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
#84
SGX's CEO is working very hard...Big Grin

SGX to develop Asia’s first electricity futures market

Singapore Exchange (SGX) is developing Asia’s first electricity futures market with a targeted launch by end-2014, subject to regulatory approval.

SGX said it was selected by the industry as the preferred exchange for the electricity market following a consultation exercise by the Energy Market Authority (EMA).

SGX is working closely with the EMA, Energy Market Company (EMC) and market participants to design the futures products and develop a vibrant marketplace for generators, electricity retailers, customers and other participants.
...
http://www.theedgesingapore.com/the-dail...arket.html
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
#85
SGX's CEO is working very VERY hard!! Big GrinBig Grin

AGM2013 had talked about launching Thai/Philipines futures and also FX futures (considered a new asset class).

SGX launches Asian foreign exchange futures

Singapore Exchange (SGX) is introducing Asian foreign exchange (FX) futures for deliverable and non-deliverable Asian currencies from 11 November 2013. Futures contracts for six currency pairs, AUD/USD, AUD/JPY, USD/SGD, INR/USD, KRW/USD and KRW/JPY, will be launched initially.

SGX’s introduction of Asian FX futures is in line with global G20 regulatory reforms where all standardised OTC derivative contracts should be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties. The trading of FX derivatives on a regulated exchange platform will promote greater transparency, and better serve investment and risk management needs in the Asian time zone.

http://infopub.sgx.com/FileOpen/20131028...eID=261385
Reply
#86
But he not paid very very hard leh...
Reply
#87
(28-10-2013, 09:37 PM)NTL Wrote: But he not paid very very hard leh...

Base on AR2013 pg 75, the company CEO, Mr. Magnus Böcker's gross total salary was more than S$4 mil, excluding the performance share awarded. The share awarded in 2013 was 192 lots, or approx. S$1.4 mil at today price.

Has the company paid him hard enough? Big Grin

(not vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
Reply
#88
If some smaller firms CEOs or EDs can be paid $1M to $3M, SGX may not pay him hard enough. Maybe he should lower his pay a bit, and go work for the smaller firms? Big Grin
Reply
#89
shortly after the punters' penny stocks saga, hmm..makes me wonder

THE chief regulatory and risk officer of the Singapore Exchange (SGX), Ms Yeo Lian Sim, will retire from her duties at the end of this year.

Ms Yeo will continue to be a special advisor to the SGX.

Taking her place is Mr Richard Teng, who will be the chief regulatory officer and Ms Agnes Koh, who will lead the risk management team as the chief risk officer. Both individuals will start in their new positions from Jan 1.

SGX chief executive Magnus Bocker said in a statement: "Lian Sim has built SGX's risk management and regulatory function into a well-respected, professional organisation with a worldwide reputation for expertise and execution.
Reply
#90
(23-11-2013, 12:56 PM)pianist Wrote: shortly after the punters' penny stocks saga, hmm..makes me wonder

THE chief regulatory and risk officer of the Singapore Exchange (SGX), Ms Yeo Lian Sim, will retire from her duties at the end of this year.

Ms Yeo will continue to be a special advisor to the SGX.

Taking her place is Mr Richard Teng, who will be the chief regulatory officer and Ms Agnes Koh, who will lead the risk management team as the chief risk officer. Both individuals will start in their new positions from Jan 1.

SGX chief executive Magnus Bocker said in a statement: "Lian Sim has built SGX's risk management and regulatory function into a well-respected, professional organisation with a worldwide reputation for expertise and execution.

Ms Yeo was from MAS.

Hopefully Mr Teng will help further ensure the stock market is a level playing field.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
Reply


Forum Jump:


Users browsing this thread: 5 Guest(s)