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.
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