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SGX says stock market will remain open amid closure of non-essential services

Jeffrey Tan
Jeffrey Tan • 2 min read
SGX says stock market will remain open amid closure of non-essential services
SINGAPORE (April 3): The Singapore Exchange (SGX) says its securities and derivatives markets will remain open and accessible to investors.
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SINGAPORE (April 3): The Singapore Exchange (SGX) says its securities and derivatives markets will remain open and accessible to investors.

This is in line with Prime Minister Lee Hsien Loong’s speech earlier today that essential services will continue as usual, though non-essential services are required to suspend all activities at workplace premises.

His instruction was part of a stricter set of measures that will come into effect on April 7 to curb the spread of the novel coronavirus (Covid-19) pandemic.

SGX says it will ensure continued availability of its markets with the support of market participants, such as brokerage firms, liquidity providers, market makers and data vendors.

“SGX is a key financial market infrastructure for international and retail investors,” SGX CEO Loh Boon Chye says in a press statement late this evening.

“Our priority is to ensure that our markets are always available and accessible, so that our clients can manage their investment portfolios during these volatile times.”

SGX’s announcement also affirms a statement by the Monetary Authority of Singapore (MAS) today.

MAS says that financial services will remain open and available to all customers and counterparties in Singapore and globally.

Meanwhile, SGX notes that central depository (CDP) services will continue to be available and the majority of the services can be accessed without visiting the CDP Customer Service Centre.

It adds that the CDP Customer Service Centre — from April 6 onwards — will assist with a limited number of services on an appointment-only basis.

These services include share transfer, updating of signature, estate account processing and deposit/withdrawal of share certificates.

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