Tuesday, April 03, 2012

SGX launches dual currency trading for securities market

SINGAPORE: The Singapore Exchange (SGX) said it has successfully launched dual currency trading for its securities market on Monday.

In a statement, SGX said Hutchison Port Holdings Trust (HPHT) is the first listed security to launch dual currency units on SGX by adding a S$ counter to their US$ counter.

HPHT, the world's first publicly traded container port business trust, saw healthy trading of its S$ counter, amounting to S$4.13 million in its first day of trading.

SGX added that HPHT's US$ counter traded US$16.01 million.

The Singapore bourse said in terms of value traded - both USD and SGD - HPHT accounted for 1.8 per cent of the securities market's daily average value for the first quarter of 2012.

SGX said it accounted for more than three per cent of market turnover on Monday, suggesting that liquidity may have improved.

In terms of daily average trading volume, SGX said the S$ counter of HPHT is 17 per cent of its total turnover.

The exchange said it has introduced dual currency trading of securities to benefit retail investors by making HPHT more accessible in Singapore dollar and cheaper without incurring the cost of foreign exchange conversions.

It also expects dual currency trading to appeal to investors seeking Singapore dollar priced assets with exposure to regional growth.

- CNA/fa

View the original article here

Source From Channel News Asia

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