The Singapore Exchange says it is addressing some of the grievances raised by stockbroking agents and investors, after a group of agents wrote to the government to express unhappiness over the state of the market.
“We actively engage market participants, relevant stakeholders and the public prior to introducing any new initiatives to the marketplace through public consultations. Initiatives are then introduced after approval from our regulators,” SGX was quoted as saying by the Business Times.
While Singapore is the number one venue in Asia for foreign exchange and has seen strong growth in derivatives trading, the average value of shares traded on its exchange each day is now less than that of Thailand’s and trails far behind Hong Kong and Tokyo.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Richard Pullin)