Equities market can improve only with goodwill and compromise by all

The state of the local equities market has been the subject of much debate these past 12 months, plagued as it is by falling volume, an absence of a meaningful quantity of quality new offerings and (perhaps most notably) a highly disgruntled trading representative (TR) body, which is most unhappy with the direction the market is taking.

Earlier this year, these TRs sent the government a list of complaints and recommendations for improvement, which prompted a series of dialogues between the TRs and the Monetary Authority of Singapore (MAS). Two weeks ago, a senior MAS official contributed an article detailing the authorities' take on how to achieve a vibrant securities market.

Close reading of the letter penned by the TRs and the MAS article reveals common goals, among them making Singapore a transparent, preferred listing destination for investment-grade companies where everyone can trade actively and with full confidence that their interests would be safeguarded at all times.