Ditching MTP rule is about listening to the market
A solution to deter market manipulation had created new problems instead
Add BT as a preferred sourceIT'S not often that the Singapore Exchange reverses a rule it deemed necessary just a few years back.
On Thursday, Singapore's frontline market regulator conceded that the minimum trading price (MTP) rule for mainboard-listed companies should be scrapped.
Singapore Exchange Regulation (SGXRegco) chief Tan Boon Gin did not consider the MTP a mistake, but he acknowledged market feedback that had highlighted its shortcomings. He said the MTP has been a "blunt tool" that created various "unintended consequences" for issuers and shareholders.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
New EC rules to cool prices: MOP doubled to curb flipping, no more deferred payments and more units for first-timers
Singapore Instagram seller must pay Louis Vuitton S$510,000 in damages over counterfeit goods case
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
