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SGX profit up, no word yet on MOS

03 Nov 2003

Singapore Exchange (SGX) recorded a profit of S$32.8m ($18.8m) for the three months to 30 September 2003, 76% higher than the previous year....

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.