SGX    Last:16.52    +0.18

SGX

Dark pool gets green light

Chris Howells

christopherh@mediacorp.com.sg

Chi-East said it had already seen strong interest from major investment banks and local brokers for the platform.

Trading is expected to begin in the fourth quarter.

Dark pools are trading venues that do not display quotes publicly, helping investors minimise price fluctuations and save costs.

They are relatively new in Asia, although they are widely used in the United States and Europe.

In Europe, 5 to 8 per cent of trading by large investors takes place on such off-market platforms.

Mr Ned Phillips, chief executive of Chi-East, said its goal would be to become a major player in Asia by capturing liquidity in the alternative trading space.

“Our major clients will be the major investment banks … We’re also able to grow it with some of the local brokers, some of the specialist brokers and also the proprietary trading firms,” he said.

Chi-East supports anonymous trading of selected Australian, Hong Kong, Singaporean and Japanese equities.

The company said it would likely see stronger take-up for its trading venue from Japan where alternative venues have been present for the last nine years.

The take-up in the rest of the region, however, is likely to be slower as regulations and awareness take time to grow.

Dark pools are also expected to attract more liquidity to local markets in Asia, analysts said.

“If the dark pool isn’t there, then the volume wouldn’t be there for that particular type of trade because it’s actually specific to a very specialised type of investment crowd,” said Mr Wong Sui Jau, general manager of unit trusts distributor

Meanwhile, the SGX said yesterday that the benchmark Straits Times Index would now be delivered using new streaming technology.

This will allow investors and traders to get sub-second updates any time the price of the underlying constituents change, as opposed to the current 15 second intervals. They can then make quicker trading decisions and respond faster to market conditions.

Separately, the SGX said total market turnover for last month grew to $38 billion, up 20 per cent from $31.6 billion in August.SINGAPORE — Chi-East, the joint venture between Chi-X Global and the Singapore Exchange (SGX), has received regulatory approval from the Monetary Authority of Singapore (MAS) to operate a dark pool trading platform.Fundsupermart.com.

 

NEWS RELEASE
Singapore Exchange achieves successful month for Gold spot
contract, Nikkei Dividend and China A50 futures
4 October 2010 – Singapore Exchange (SGX) is pleased to announce record volumes for its
Gold Deferred Settlement contract, Nikkei dividend and China A50 futures contracts for the
month of September 2010.


KEY HIGHLIGHTS
Securities Market

Securities trading remains healthy month-on-month, with total securities market turnover at
$38 billion for September, 20% increase from August. Daily average value for September
was $1.8 billion, 20% higher than in August.

Funds raised through new bond listings increased month-on-month to $19 billion, up 39%
from August.

Total market capitalisation as at 30 September 2010 is $778 billion.
Derivatives and

 

soon to fly!!!!

 

This make some of my friends very rich - they bought at its lowest , $6 plus

I am one step behind..

niuyear      ( Date: 28-Sep-2010 11:57) Posted: iPunter!!!!! i lilke these pictures..    iPunter      ( Date: 28-Sep-2010 10:52) Posted:

 

Is this the beginning of the end?

 

Be very careful for this counter. I think is quite volatile it might surprise you on the prices.

It might come down as it has gone up too much within a short span of time...This is just how I feel..

 

Weather start to change from bright day to dark cloud. Angmo CEO much better ??? Let seeeeeee

Jackpot2010      ( Date: 28-Sep-2010 10:15) Posted: $9.20! New Angmo CEO much better than Hsieh Fool Hua! SGX future income greatly boosted by ADRs of Chinese firms listed on Nasdaq + Bonds for retail investors + GLP, MappleLog. Supercharged form now, overtook many bluechips- ocbc ($8.88) Kepcorp ($9.08). niuyear      ( Date: 28-Sep-2010 09:48) Posted:   I copy cat from someone.  .............

 

Congrates on your foresight.  You are rich.

Richman      ( Date: 28-Sep-2010 10:52) Posted: I will hold till it hit $14.00

 

Chai Shen Yeah like you !!!...

 

iPunter!!!!!

i lilke these pictures.. 

 

iPunter      ( Date: 28-Sep-2010 10:52) Posted:

 

very likely, on 2 Sept 07 - 2 Oct 07 a mear 1 month SGX rose from 9.80 -15.2! and stayed on that range for about 1 month before hitting the financial crisis! now its showin strong recovery so stay vested early!

 Cheers!

 

 

I will hold till it hit $14.00

 

Next week agm 7Oct may be can hit $9.50

 

$9.20! New Angmo CEO much better than Hsieh Fool Hua!

SGX future income greatly boosted by ADRs of Chinese firms listed on Nasdaq + Bonds for retail investors + GLP, MappleLog. Supercharged form now, overtook many bluechips- ocbc ($8.88) Kepcorp ($9.08).

niuyear      ( Date: 28-Sep-2010 09:48) Posted:   I copy cat from someone.  .............

 

 

I copy cat from someone.  .............

 

It will steal the limelight replacing STI counters, I am afraid. Hence,  STI counters will be trended down for the next quarter I suppose!

pharoah88      ( Date: 15-Sep-2010 11:01) Posted: SGX to quote ADRs of Chinese firms Ephraim Seow ephraimseow@mediacorp.com.sg SINGAPORE The Singapore Exchange (SGX) said yesterday it would launch the American Depository Receipts (ADRs) of these companies on Oct 22. ADRs are certificates that represent a specified number of shares in a foreign stock traded on a US exchange. They are denominated in US dollars, with the underlying security held by a US financial institution overseas. As a start, SGX will quote ADRs of 19 firms on its new GlobalQuote board. Besides PetroChina — currently the world’s second-largest listed company after Exxon Mobil — the others include Chinese language Internet search giant Baidu and the world’s biggest telco, China Mobile. SGX said the move marked the start of its cooperation with Nasdaq OMX to bring ADRs to GlobalQuote. It will link market participants from both trading pools, with the ADRs on GlobalQuote fully interchangeable with US-listed ADRs. BNY Mellon is the depository bank for SGX’s GlobalQuote. If it proves popular, the exchange may extend the platform to the ADRs of South Korean, Taiwanese and Indian firms, SGX executive vice-president Chew Sutat said. Industry experts welcomed the move, saying the ADRs are a good product with which investors can diversify their portfolios. ADRs could also be a more efficient and cost-effective system since investors here do not have to open a separate trading account and incur additional broking fees, they said. However, they expect a slow initial subscription rate. “It may take about half a year for investors to know the way around the trading system and understand the companies they are buying into. The take up rate also depends on the marketing of these firms and the accessibility of research information,” noted Mr Roger Tan, vice-president of Sias Research. Analysts also warn investors to be aware of the risks related to investing in ADRs. “Beyond the regular risks of equities trading, there is the added currency risk. Even if the shares appreciate, the overall value may be decreasing if the US dollar is weakening while the Singapore dollar is strengthening,” said Mr Albert Fong, president of The Society of Remisiers.— Singapore-based investors will soon have the opportunity to trade in shares of some of the large Chinese firms listed in the United States, such as PetroChina and Baidu, during the Asian time zone.

 

This one beautiful!!

niuyear      ( Date: 14-Sep-2010 15:01) Posted: SGX had made mistake by listing too many JUNK S-chips, hope this time round, the move could bring their share price to new high?  can surge pass $9.00? Jackpot2010      ( Date: 14-Sep-2010 14:49) Posted: High $8.30! Very sudden surge this afternoon...do expect some profit taking after up >30c. SGX will list ADRs of 19 US listed Asian co on 22 Oct - earned commission will shoot to the sky. http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_1BCE828F3E3B30E04825779E0019453E/$file/09142010_SGX_launches_ADRs_brings_US-listed_Asian_companies_to_Asia.pdf?openelement

 

$8.87 + 17c No news today also UP!

 

Breaking news: $8.72 +22c. UTAC (privatised in 2008) now seeks re-listing abt $800m + retail investors can buy corporate bonds.....more to come!

 

$8.44 + 20c @ Day's High. Mapletree logistic Trust announced $800m IPO. More listing in the pipeline....SgPower, PSA etc. When STI >3,100, SGX will >$9....all time high was >$16 in Oct 2007.