SGX's bond-market foray now includes a dark pool

Singapore Exchange Ltd will open a dark pool for bonds as the 42-year-old bourse prepares to enter the institutional fixed-income trading business for the first time next year.

 

The venue, which allows traders to flag interest in a security without indicating the size or the price of their desired transaction, will form part of SGX's Bond Pro platform scheduled for the first quarter of 2016, Tsai Li Renn, the bourse's head of fixed income, said in an interview on Monday.

Designed to minimise the price impact of buy and sell orders, the dark pool will be the first of its kind set up by an exchange operator, according to SGX.

"We asked participants: 'How would you like to access liquidity in this marketplace?'" Mr Tsai said. "We found that they really wanted a dark pool."

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SingTel kept at 'neutral' by Goldman Sachs, target price of $4.07 unchanged

SINGAPORE (Nov 17): Goldman Sachs is keeping Singapore Telecommunications (SingTel) at "neutral" with an unchanged target price of $4.07, as it reckons the telco player is "fully valued".

The recommendation comes as the telco's 2Q FY16 results were in line with estimates of Goldman Sachs.

SingTel reported an underlying net profit of $974 million and revenue of $4.18 billion.

Goldman Sachs says the telco's core operations were stable, with growth in mobile data services and higher revenue from digital services.

SGX says health of companies operating in China worrying, tells directors to keep vigilant

SINGAPORE (Nov 17): Singapore Exchange has expressed concern over the financial health of companies with large operations in China and instructed their directors to discharge their duties to safeguard the interests of shareholders.

SGX is closely monitoring companies reporting adverse financial developments and their directors, according to its Regulator's Column published today. The column also provided guidelines for the board to handle specific cases of depletion of cash, assets or retained profits.

STI slips 0.94% to 2,898.27 at midday

SINGAPORE (Nov 16): Singapore equities nudged lower at noon on Monday, amid declines in other Asian bourses following attacks in Paris. Adding to the weak sentiment, Japan's economy also entered into a technical recession in the third quarter.

The Nikkei 225 and KOSPI Indices both slipped around 1%, while the Hang Seng Index slumped about 1.6%.

By 12.08 p.m., the Straits Times Index declined 0.94% to 2,898.27. Market breadth was negative. Excluding warrants, decliners outnumber gainers 255 to 74.

Golden Agri kept at 'hold' by OCBC with 34 cents fair value

SINGAPORE (Nov 16): OCBC is maintaining its "hold" call on Golden Agri with a higher fair value of 34 cents as its near-term outlook remains challenging and the research house suggests investors bargain-hunt at around 30 cents or better.

Golden Agri reported 3Q15 revenue of US$1.57 billion ($2.3 billion), down 15% from a year ago, hit by lower CPO prices.