Singapore, Jan 11, 2026, 15:20 SGT — Market closed
- Singapore Exchange shares rose 1.16% in the last session on Friday to S$17.51
- Regulators opened consultations tied to a proposed SGX-Nasdaq dual-listing route
- SGX flagged a year-end pickup in turnover value and derivatives volume in December
Singapore Exchange Ltd (SGXL.SI) shares closed up 1.2% on Friday at S$17.51, as new consultations tied to a planned Nasdaq dual-listing route kept the exchange operator in focus. The stock traded between S$17.20 and S$17.53 and about 2.0 million shares changed hands. StockAnalysis
The policy push matters because SGX’s revenue is closely linked to listings and trading activity. A lift in liquidity can show up quickly in fees, while a deeper IPO pipeline tends to play out over quarters, not days.
The Nasdaq tie-up is meant to cut cost and complexity for companies seeking a dual listing, and Singapore is pushing to catch up with regional rivals for IPO flow. But bankers have warned that a high valuation threshold and the city-state’s thin turnover could limit take-up; “the broader impact will depend on early deal flow, liquidity support and whether the Singapore regulatory authorities subsequently relax thresholds,” said Tay Hwee Ling, capital markets services leader at Deloitte Southeast Asia. Reuters
Singapore’s central bank launched a public consultation on proposed changes to securities laws aimed at facilitating dual listings on SGX and Nasdaq. The Monetary Authority of Singapore said the amendments would allow a single prospectus across both jurisdictions, shorten Singapore’s registration process to align timelines with the United States, and permit certain U.S.-style practices such as forward-looking statements and share buybacks under “safe harbour” provisions, a legal shield if conditions are met. Reuters
Separately, SGX’s regulation unit said it is consulting on a listing rulebook for a proposed Global Listing Board, including a S$2 billion market capitalisation requirement and a condition that issuers be listed (or accepted for listing) on Nasdaq’s Global Select Market. SGX RegCo said the consultation on the proposed rulebook is open until Feb. 8.
SGX also reported a year-end pickup in activity. It said securities turnover value — the value of shares traded — rose 29% in December from a year earlier to S$25.8 billion, while derivatives traded volume across equities, foreign exchange and commodities rose 22% to 28.3 million contracts; full-year derivatives volume climbed 10% to 329 million.
In the same update, SGX pointed to strength in its China-linked contracts and hedging products, including SGX FTSE China A50 Index Futures, and said iron ore derivatives volume rose 51% in December from a year earlier to 5.4 million contracts. It also said FX futures volume rose 43% to 8 million contracts, the highest since April.
On the chart, SGX shares are still within reach of their 52-week high of S$17.89 set on Oct. 6, 2025, after rallying sharply from a 52-week low of S$11.50, FT data showed. Traders are watching whether the stock can retake that prior peak, with Friday’s intraday low around S$17.20 a near-term reference. FT Markets
Macro drivers matter for exchange operators because big data prints can lift volatility, which typically brings more hedging and trading. U.S. CPI data for December 2025 are scheduled for release on Jan. 13 at 8:30 a.m. Eastern time, according to the U.S. Bureau of Labor Statistics. Bureau of Labor Statistics
But there are risks on both fronts. The Global Listing Board may draw only a small pool of eligible issuers at first, and a quieter market can cool volumes even if the rule changes go through.
The next clear catalyst is SGX’s 1H FY2026 results, due before the market opens on Feb. 5, with a briefing scheduled for 9:00 a.m. Singapore time featuring CEO Loh Boon Chye and CFO Daniel Koh, a filing on SGXNet showed. links.sgx.com
