Launch of Quest-ST (090708)

With the introduction of the new SGX trading system, Quest-ST, we would like to highlight the changes in order placing and matching.

Quest-ST will not check for:

a) Buy order price being higher than Seller's price
b) Sell order price being lower than Buyer's price

Orders fulfilling these criteria will now be sent to the Order Book for matching.

 

As an example:

Assume the current Bid/ Ask for Singtel is: $3.51/ $3.52.

If a client keys to buy 50K Singtel shares at $3.55, depending on available volume, the order will be filled from $3.52 up to a limit price of $3.55 without further warning or message. If there is sufficient sell volume queuing at $3.52, the buy order will be completely matched at $3.52. If there is insufficient queue volume to complete this buy order even at $3.55, the balance quantity will be left on queue at $3.55.

Similarly, if a client attempts to sell Singtel at $3.48. The order will be filled from $3.51 down to a limit price of $3.48 depending on the available volume until the sell order quantity is completely filled.