SGX Proposes Changes To Reporting And Registration Of Negotiated Large Trades In Derivatives Market

Singapore Exchange (SGX) is consulting the public on its proposed changes to the reporting and registration of Negotiated Large Trades (NLTs) in the derivatives market.

To enhance the reporting process for market participants, the proposed changes are:-

To introduce a new functionality to enable the registration of NLTs through QUEST Application Programming Interface (API); and
To extend registration hours on the eNLT system to 8.00 pm (Singapore time) for all SGX-DT contracts.

As an alternative to the existing eNLT system, the proposed Trade Report API functionality will offer greater convenience to market participants whose order management system already connects to the SGX trading engine via API. At the same time, market participants will continue to retain the current option of registering NLTs via the eNLT system.

With the proposed extension of NLT registration hours on the eNLT system, market participants will enjoy greater flexibility to execute their options strategy and futures hedges. The proposed change will also bring SGX-DT in line with the current NLT registration practice on SGX AsiaClearR.

SGX intends to implement the proposed changes in the third quarter of 2012.

The consultation paper with details is available on SGX website www.sgx.com from today onwards. Market participants and members of the public can send in their comments and suggestions from today until 26 March 2012 via email and either by post/courier or fax to:

Email: rules@sgx.com

and

Post/Courier: Singapore Exchange
                    2 Shenton Way, SGX Centre 1
                    #19-00, Singapore 068804
Attn:             Chan Huimin
                    Regulatory Development & Policy
Fax:             +65 6534 2207

Consultation Paper