Currently, the Bye-Laws of Singapore Exchange Securities Trading (SGX-ST) stipulates that remisiers' share of brokerage should not exceed 40%. SGX is revising the relevant Bye-Laws to remove this limit, and allow members and remisiers full flexibility in negotiating their share of commission.
Also, as announced earlier, brokerage on securities transactions will become fully negotiable with effect from 1 October 2000.
Mr Thomas Kloet, CEO of SGX, said, "Consistent with the principles associated with fully negotiable commissions, SGX believes that the sharing of commissions should be a commercial arrangement between the concerned parties."
