Education of investors, not excessive regulations, to revive SGX

I REFER to the recent spate of reports on reviving the moribund Singapore stock market, with the latest being the Mark to Market column “MAS review group should build on market’s track record, seek to strengthen big local companies” (BT, Sep 2, 2024)

As an ex-remisier, I am appreciative of the multi-faceted efforts from many illustrious entities to restore SGX to its former glory days, labelled tongue-in-cheek by the writer as “the bad old days”. These efforts have been ongoing for years but having the Monetary Authority of Singapore step in is possibly an indication of the seriousness of the situation.

Conspicuously, all the efforts have almost without exception been top-down. Perhaps it is timely to hear the voices from the trading floor, from remisiers and dealers, the very people who hit the buttons that trigger daily market activity. Together with research analysts, they are the last-mile bridge to reach investors, retail and institutional, who are the very lifeblood of SGX. It’s like adults designing a playground without any thought of who might come to play. Likewise, the current efforts will bear little fruit without input from the main participants left “playing” the market. I hate to see history repeat itself – doing the same thing and expecting a different outcome just seems pointless, no matter how well intentioned.