The Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) has jointly announced that the South-East Asian nation's securities market will move to T+2 settlement, in line with other global reforms.
Singapore currently has T+3 settlement, in which a transaction completes no later than three days after a deal is struck. It will move to T+2 by 2016, says the joint consultation paper, which will be open for comment for 12 weeks.
In the same release, the two bodies also updated their collateral guidelines, the introduction of a short-selling reporting regime, new measures over transparency and listing admissions changes.
"This joint consultation and enhancements to SGX's regulatory tools encompass structural and regulatory aspects crucial to a well-functioning securities market," says Magnus Bocker, CEO at SGX. "Today's world is fast-changing and we need to strengthen Singapore's securities market to meet the expectations of investors and companies."
While at Sibos Toronto, James shares some interviews covering topics on blockchain, fintechs and cybersecurity.Subscribe to Weekly Wrap emails