Traders on SGX to get an hour's lunch break from November - Channel NewsAsia

An office worker walks past a logo of the Singapore Stock Exchange (SGX) outside its premises in Singapore, April 23, 2014. (Photo: Edgar Su/Reuters)

SINGAPORE: Following a public consultation, the Singapore Exchange (SGX) on Tuesday (Jul 18) said it is going ahead with changes that will allow stock traders a noon break. 

From Nov 13, the market will be closed from 12 noon to 1 pm.

It is also making a number of other changes to the equities market structure. 

The minimum bid size (MBS) for securities in the S$1.00 to S$1.99 price range will go up to S$0.01 from the current S$0.005.

"The S$1.00 to S$1.99 price segment is the one that has shown the biggest decline in traded value and has the lowest level of retail participation in recent years," it said.

A wider MBS targeting this price range is expected "to achieve ... balance between the various competing interests of market participants".

It said it will also widen the forced order range (FOR) for relevant securities to +/- 30 ticks from +/- 20 ticks. An order is "forced" when it is submitted at a price outside the stated forced order bid spread. A system then alerts a trader when he enters an order price that is more than the stated forced order bid spread from the current bid/ask prices in the market. 

"The midday break, increased minimum bid size and wider forced order range are the result of the collaborative approach the entire market ecosystem is committed to in enhancing our market,” said Loh Boon Chye, CEO of SGX.

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