SGX to Launch New Securities Settlement & Depository System
Posted: Mon Nov 12, 2018 11:55 am
The Singapore Exchange (SGX) announced today that it will be launching a new securities settlement and depository framework and system next month on December 10, 2018, to meet global standards.
The system currently used by the SGX has a securities settlement cycle of three days (T+3). However, the new framework will reduce this settlement cycle down to two days (T+2) and allow the simultaneous settlement of money and securities.
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Making this change will harmonise Singapore’s stock market with other global markets such as Australia, the European Union, the United States and Hong ... (read more)