SINGAPORE IS CATCHING UP
“The exchange can no longer afford to be a backwater,’ declared Joseph Ybaraj Manuel Pillay, managing director of the Monetary Authority of Singapore, introducing reforms designed to bring the Singapore Stock Exchange up to date. An unlisted securities market, opening next month, is only the first of these.
With the USM will come automated screen trading systems and a scrip depositary, to make scripless trading possible. The new system, modelled on Nasdaq, will be called Sesdaq–Stock Exchange of Singapore Dealing and Automated Quotation.
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