THE review group set up by the regulator to improve Singapore’s stock market will engage a wider group beyond its own members, said Loh Boon Chye, the chief executive officer of the Singapore Exchange (SGX) Group.
Currently, the review group includes a representative from SGX, as well as other public and private sector representatives.
But Loh assured that the group will seek the views of those outside the group. “We will obviously represent what we hear and what is being suggested to us by the broader ecosystem,” he said.
Loh was responding to questions by the media at SGX’s financial results briefing on Thursday (Aug 8) about the composition of the review group and if industry players such as brokers and remisiers should be part of the group.
SGX’s chairman Koh Boon Hwee is a member of the 10-person group which was convened last Friday. The group is chaired by Second Minister for Finance and Monetary Authority of Singapore (MAS) board member Chee Hong Tat.
The group will recommend measures to aid in the development of the equities market in Singapore and complete a report within 12 months.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Several industry players had questioned the composition of the review group.
For instance, S Nallakaruppan, president of The Society of Remisiers (Singapore) told The Business Times that market practitioners such as brokers would be better able to address the issues in the public equity market compared to policymakers who may have no direct experience in the public equity market.
“If they want to have solutions, they need to include people in the frontline who are tackling the market day-to-day,” said Nallakaruppan.
SEE ALSO
