Building a vibrant stock market is a shared responsibility

ALMOST exactly a year ago, 1,225 trading representatives (TRs) signed a petition to the Finance Minister that listed suggestions to improve their profession and conditions in the local stock market.

That petition was born out of despair and disillusionment formed in the wake of deteriorating market conditions and a claimed loss of retail confidence in local equities after 2013's penny stock crash.

What then ensued was a series of meetings between TR representatives and officials from various regulatory agencies that culminated in a dialogue last week between TRs and the Singapore Exchange (SGX), the Monetary Authority of Singapore, the Institute of Banking and Finance and the Securities Association of Singapore, and an announcement by SGX that it will conduct a sweeping review of its business.