Singapore Exchange’s trade-at-close enhancement begins on June 3

The new enhancement, according to Mr Nico Torchetti, head of market services at SGX, will enable the exchange’s customers to transact at an already-established closing price.

From today (June 3), the Singapore Exchange (SGX) stock market will close at 5.16pm, extending its aftermarket trading hours in a 10-minute window to allow customers to buy or sell shares at an established closing price.

Called the ‘trade at close’ (TAC) session, the period will take place after every regular trading day. Participants can execute orders for stocks at the closing auction price, from 5.06pm to 5.16pm Singapore time. If the market is trading for half a day, the session will take place from 12.06pm to 12.16pm.

The new enhancement would mean that corporates who wish to publish their announcements after the market closes will have to pay attention to the new trade enhancement timings.

The enhancement, according to Mr Nico Torchetti, head of market services at SGX, will enable the exchange’s customers to transact at an already-established closing price.

Investors and brokers who desire price certainty or those looking to fill an order that was not completely transacted during the closing routine will benefit from the new TAC session, Mr Torchetti said.

The new TAC session arrived through a public consultation which received supportive feedback, the SGX said. The closing routine time which is six minutes after the local market closes was derived from the respondents’ comments, the exchange added.

The exchange said it looks forward to customers’ active participation as it continues to scope at ways to enhance the securities market.

SGX’s securities market runs continuous trading sessions from 9am to 12pm and 1pm to 5pm on weekdays, except for public holidays and half-day sessions.

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