SGX RegCo consults on proposals to streamline ETF designated market-maker requirements
29 September 2025
On 5 September 2025, Singapore Exchange Regulation (“SGX RegCo”) published a consultation paper seeking market feedback on proposed changes to streamline the requirements of designated market-makers (“DMMs”) for exchange-traded funds (“ETFs”). The consultation closed on 26 September 2025.
SGX RegCo intends to remove administrative requirements for notification and announcement when ETF DMMs cease, or resume, bid and offer quotations. This will align Singapore’s market practices with those of other global markets.
The consultation paper invites feedback on:
- changes to the obligations of DMM for ETFs listed and/or quoted on the Singapore Exchange Securities Trading Limited (“SGX-ST”), specifically, in relation to the notifications and announcements that ETF DMMs need to make when they cease to provide bid and offer quotations, and when they resume quotation; and
- amendments to the SGX-ST Rules to reflect these proposed changes.
The proposals result from a review of the regulatory framework around the trading of ETFs to identify areas that may impact the listing and trading of ETFs. This follows the Monetary Authority of Singapore’s enhancement in July 2025 of the Grant for Equities Market Singapore Scheme for ETFs to facilitate more ETF listings.
Reference materials
The following materials are available on the Singapore Exchange website www.sgxgroup.com: