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| Jan 11, 2008 |  |
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Brokers turned down free live STI feed, says FTSE
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| By Alvin Foo | |
| DEALERS and remisiers linked to local brokers in Singapore no longer have access to live values of the newly revamped Straits Times Index (STI) on their trading terminals.
This is because these brokers have opted not to connect their machines to the live data feed that supplies the index values, even though it is currently being offered free of charge by the index's owners. The Straits Times understands that the problem boils down to a dispute over the cost of the feed. Under a new partnership, Singapore Press Holdings (SPH), Singapore Exchange (SGX) and London's index specialists FTSE relaunched the STI on Thursday, along with 18 other new FTSE ST indexes. Prior to this week's relaunch, the STI was calculated by SGX and distributed together with its stock prices feed. But from Jan 10, the revamped STI and the new FTSE-ST index series are calculated by FTSE and distributed separately. The new-look STI now has 30 component stocks instead of 47, and the new FTSE ST indexes include those that track mid-cap and small-cap stocks, as well as sectors such as property and finance. According to FTSE deputy chief executive Donald Keith, the three index partners intend to eventually charge local brokers for the live feed that supplies the index values. Read the full story in Saturday's edition of The Straits Times. |
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