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.
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
See an opportunity to trade?
Go long or short on more than 17,000 markets with IG.
Trade CFDs on our award-winning platform, with low spreads on indices, shares, commodities and more.
Live prices on most popular markets