The size of the board lots was last reduced in January 2015 from 1,000 to 100 units. At the time, the SGX said a smaller board lot size will make it more “affordable” for retail investors to invest in a wider range of equities including blue chips.
Under the review group measures, SGX will also enable the broader offering of investment securities like portfolio management, fractional trading and robo-investing for SGX securities, says MAS.
The proposed broker custody account model is said to be in line with major market practices and will encourage greater participation by internationally active asset managers.
Retail investors will have the option of keeping their CDP direct accounts if they wish to do so.
See also: Amova to launch two funds under EQDP in 1Q
The SGX will consult on the rule changes in 1Q2026.
Read more about the latest updates from the equities market review group:
- Amova, Manulife IM, Lion Global reveal details of fund strategies chosen under MAS’s $5 bil EQDP
- MAS places $2.85 bil with six asset managers; launches $30 mil 'Value Unlock' programme
- SGX and Nasdaq to simplify dual listings by streamlining regulations and fundraising
- Smaller board lots: The race to $10 starts at 10
See also: AR Capital to launch its EQDP-appointed fund in 'early 2026'
Read more about the equities market review group and the Equity Market Development Programme:
- MAS consults on measures to enhance investor recourse for losses from market misconduct (October)
- More details on ‘Value Unlock’ programme for listcos to be unveiled in November: Chee Hong Tat (October)
- Fullerton launches first retail fund under EQDP to ‘value up’ SGX stocks (October)
- From America to Asia, ‘timing is right’ for SGX measures: Ng Kok Song (July)
- JPMAM’s EQDP-appointed fund strategy to focus on Asian equities with ‘majority’ allocated to Singapore stocks (July)
- MAS picks Avanda, Fullerton, JP Morgan under $5 bil Equity Market Development Programme (July)
- Equities market review group targeting ‘mid-sized but good-sized’ companies to list in Singapore (February)
- Proposing equity market changes a ‘balancing act’ that comes with ‘trade-offs’: Chee Hong Tat (February)
