SGX seeks public feedback on reduction of board lot sizes

[SINGAPORE] The Singapore Exchange (SGX) on Friday (Jan 23) said that it is seeking feedback from the public on proposed changes to reduce the standard board lot size of certain instruments traded on the SGX.

The proposed changes are:

• A reduction in the standard board lot size from 100 units to 10 units, for instruments priced above S$10 and up to S$100.
• A reduction in the standard board lot size from 100 units to one unit, for instruments priced above S$100.

A smaller standard board lot size will lower the minimum outlay required for investments, the bourse’s filing indicated.

“This makes higher-priced stocks more affordable and accessible to investors, which could in turn broaden investor participation and increase trading activity,” it said.

The reduction was supported by the Equities Market Review Group, which was set up to recommend ways to strengthen the development of Singapore’s stock market.

Ng Yao Loong, head of equities at SGX Group, said that share prices of some large caps have risen substantially in the past few years.

Around 30 per cent of trading activity currently comes from stocks priced above S$10, he added. 

The trio of local banks – UOB, OCBC and DBS – plus Venture Corp and Keppel, are some of these companies.

As at November 2025, the total group comprised 13 securities and represents about 40 per cent of the total market capitalisation of listed stocks on SGX, reported The Business Times previously.

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SGX board-lot cut: What are the stocks made more accessible to investors?

SGX to reduce board lot size to 10 units for securities above S$10

“This is the segment for which we want to enhance accessibility and broaden participation. By reducing the board lot size for these higher-priced stocks, we bring the minimum investment down from a few thousand dollars to just a few hundred – to make such investments more within reach, especially for younger retail investors,” said Ng.

Separately, SGX is also proposing to remove the requirement to align the minimum bid sizes of securities and futures contracts traded in Hong Kong dollars, Chinese renminbi or Japanese yen to those in their home markets.

The local bourse requires all feedback to be in by Feb 13. Implementation is expected in mid-2026, if the market supports the changes.

In January 2015, the standard board-lot size of securities listed on SGX was reduced to 100 units from 1,000.