SGX to allow omnibus broker custody accounts from 15 July

Broker custody account openings outpaced direct CDP accounts six to one.

Singapore Exchange will now allow depository agents to hold SGX securities on behalf of clients in omnibus broker custody accounts, starting from 15 July.

The changes are part of market structure and mechanics enhancements proposed by Singapore Exchange Regulation (SGX RegCo) that will be implemented in stages this month, the bourse said in a filing.

SGX RegCo will also introduce enhanced requirements and oversight for depository agents.

Minimum service standards for agents and brokers will cover areas including corporate actions and assistance for clients attending shareholder meetings.

SGX said the adoption of broker custody accounts has continued to rise, with six such accounts opened for every direct Central Depository account between October 2024 and April 2026.

The standards must be in place by the end of the year, subject to SGX RegCo’s approval.

Meanwhile, the bourse will reduce the standard board lot size for selected higher-priced instruments from 5 October.

The board lot size will be cut from 100 units to 10 units for instruments priced above $10 and up to $100. For instruments priced above $100, it will be cut from 100 to one unit.

The initial reduction will apply to 11 stocks priced above $10. These stocks accounted for 35% of trading activity in the first half of the year.

The exchange will review qualifying instruments every calendar quarter. The next review after the October implementation will take place in January 2027, based on daily closing prices from July to December 2026.

Any future board lot changes will be announced within the first five trading days after each quarter and implemented within the first five trading days of the second month after the quarter, SGX added.

Separately, from 15 July, minimum bid sizes for HKD-, RMB-, and JPY-denominated securities contracts listed on SGX-ST will no longer be aligned with those in their home markets.

“Changes to the minimum bid size will be communicated to members in advance, by way of a circular,” the bourse said.

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