The Singapore Exchange Regulation (SGX RegCo) intends to remove administrative requirements relating to ETF designated market-makers (DMMs), according to a release dated Sept 5.
The RegCo intends to remove requirements when ETF DMMs cease, or resume, bid and offer quotations. It says that this will bring its practices in line with those of other global markets.
As such, the SGX RegCo is seeking market feedback on these proposed changes, following a review of the regulatory framework around the trading of ETFs to identify areas that may impact listing and trading.
SGX RegCo says that this follows MAS’s Grant for Equities Market Singapore Scheme for ETFs to facilitate more ETF listings in July.
The consultation is open until Sept 26.
