Singapore Exchange Limited (SGX) announced today that the SGX-ASX trading link service will be discontinued at the close of business day on Friday, 29 September 2006.
In February 2006, the Australia Stock Exchange (ASX) discontinued the inbound service from ASX to SGX. SGX kept the outbound service (from SGX to ASX) operational and under review. Due to persistently low demand, SGX has decided to discontinue the outbound service. Both SGX and ASX have agreed to close the SGX-ASX trading link.
After 29 September 2006, investors who wish to sell their ASX-listed shares held with SGX Central Depository (CDP) must first transfer their positions to a custody account with a securities broking firm before selling the shares. To facilitate the transfer, SGX will absorb the cost of the transfer from 15 August to 31 December 2006.
SGX remains committed to building an Asian Gateway which includes the development of alliances that offer our participants a larger network of marketplaces.
