SGX and SIAS respond to remisiers' grouses

Singapore

THE Singapore Exchange (SGX) on Thursday defended itself by saying that some of the grievances raised by remisiers and investors in an appeal to Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam "have been, or are being, addressed". SGX also said that it is constantly reviewing the market.

This was in response to a BT report that a group of remisiers and investors had written the appeal to express unhappiness with the state and direction of the local bourse and call for immediate remedies.

One recommendation in their appeal letter was for the setting up of "truly independent" committees when consulting the public on proposed policy changes.

To this, SGX said: "We actively engage market participants, relevant stakeholders and the public prior to introducing any new initiatives to the marketplace through public consultations. Initiatives are then introduced after a…