SGX to roll out new trading engine ‘Iris-ST’ in the latter half of 2027, seeks public feedback on functionalities

SINGAPORE: Singapore Exchange Group (SGX) is rolling out a new trading engine called Iris-ST, expected to begin running in the latter half of 2027, to help its member firms offer better and additional services, the group said on Thursday (Nov 6).

The new trading engine features new order types, risk controls, and more intuitive counter codes.

SGX Group head of equities Ng Yao Loong said the move comes at the right time to implement a next-gen trading infrastructure that will meet new and emerging demands amid increasing investor participation and expansion of the exchange’s product shelf.

The Singapore Exchange Regulation (SGX RegCo) is seeking feedback from the public on rule amendments for enhancements and new functions of the new trading engine Iris-ST until Dec 31, 2025.

One of the proposals includes changes to the counter trading codes, which currently consist of three alphanumeric characters, to make them more intuitive and customisable. The new codes will apply to equity securities and ETFs, while structured products and depository receipts will follow a security-type-specific convention. The group said the change aims to improve investor experience and enhance brand recognition and visibility for listed companies.

Other proposed changes include adjustments to the price convention for retail debt securities and the opening hours of the Direct Business reporting system, which currently operates from 8.30 a.m. until market close with a midday break, and closures during certain periods of the opening and closing routines. It is proposed that the system open half an hour earlier, at 8.00 a.m., and remain open without any breaks until market close.

The consultation paper can be viewed here. /TISG

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