SGX Enhances SGXNET Announcement Templates to Boost Market Transparency
Singapore Exchange (“SGX”) has enhanced the categorization and templates of SGXNet announcements to foster greater transparency in the marketplace. These changes will enable issuers to provide more information and enable investors to efficiently access the relevant information pertinent to their investment decisions. The new templates, which will be effective 18 September 2011, comprise a new announcement category and enhancement of existing templates.
(a) New product information and market-maker announcements for “Structured warrants” and “Certificates”
Currently, announcements pertaining to structured warrants and certificates are made under the “Miscellaneous” category. The new announcement category and templates will allow issuers and market-makers to disclose more information related to product listings, market-making, product expiry, product trading suspension and resumption. These templates make it easier and more efficiency for investors to find relevant product announcements.
(b) Enhanced Announcement Templates
1. “Book Closure Date”
The objective of this revised template is to provide investors with easier retrieval of announcements. The template enables issuers to include more details of corporate actions, such as dividend value payment type, dividend type”, in their announcements. Investors can also easily refer to the details to conduct aggregation and analysis of corporate action.
2. Request for “Suspension” and “Trading Halt”
The enhanced templates offer companies more flexibility to specify a time from 8.30am when calling for a suspension or trading halt. Whereas currently, the earliest time is from 9.00am.
These changes are part of the on-going efforts by SGX to foster a transparent and well-informed marketplace.