New SGX securities market fees take effect on June 1
Investors will be subject to new securities market fees that kick in on June 1.
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31 May 2014
Investors will be subject to new securities market fees that kick in on June 1.
The new fees are part of Singapore Exchange's efforts to strengthen and improve liquidity in Singapore's securities market.
The revised SGX fees will comprise the following:
Reduced clearing fees
The clearing fee will be reduced from 0.04 per cent to 0.0325 per cent of contract value. The cap of $600 on this fee for contracts of $1.5 million, or more, will be removed.
Settlement fees pursuant to a transaction on SGX-ST
Transfer and onward settlements pursuant to on-exchange transactions on SGX-ST will be standardised to a charge of $30 per settlement instruction.
Settlement fees for transactions not pursuant to a transaction on SGX-ST
Settlement fees for all settlements not pursuant to transactions on SGX-ST (i.e. not pursuant to an on-exchange transaction) will be standardised to a charge of 1.5 basis points of the settlement value (minimum $75) per settlement instruction.
"Our initiatives are targeted at improving liquidity in our market and ensuring the safe and orderly conduct of trading activity," SGX president Muthukrishnan Ramaswami noted.
From June 1, the new SGX market maker and liquidity provider programme will also be available to all market participants, who trade as a principal using proprietary capital and can satisfy certain eligibility criteria.
Following its initial announcement of the revised fees in February, SGX has continuously engaged market participants.
The effective date of June 1 was scheduled to provide all market participants with time to complete changes required to their systems and processes.