Markets Offered


Order Placement Via

1) POEMS or
2) Your designated Trading Representative
Trading lot 100
Price Quote Via POEMS (live price)
Exchange SGX
Product Price Range ($) Minimum Bid Size ($) Forced Order/Bid Size Range
Stocks (excluding preference shares),
Real Estate Investment Trusts (REITS),
business trusts, company warrants and
any other class of securities or Futures Contracts
not specified in Rule 8.3.3
Below 0.20 0.001
0.20 – 0.995 0.005 +/- 30 bids
1.00 and above 0.01
Below 0.20 0.001
Structured warrants 0.20 – 1.995 0.005 +/- 30 bids
2.00 and above 0.01
Exchange traded funds and
exchange traded notes
All 0.01 or 0.001 as SGX-ST determines1 +/- 10%
Debentures, bonds, loan stocks and
preference shares quoted in the $1 price convention
All 0.001 +/- 30 bids
Debentures, bonds, loan stocks and
preference shares quoted in the $100 price convention
All 0.001 +/- 1,000 bids
Product Price Range (HK$) Minimum Bid Size (HK$)
Securities denominated in Hong Kong Dollar Below 0.25 0.001
0.25 – 0.495 0.005
0.50 – 9.99 0.01
10.00 – 19.98 0.02
20.00 – 99.95 0.05
100 – 199.90 0.1
200 – 499.80 0.2
500 and above 0.5
Product Price Range (¥) Minimum Bid Size (¥)
Securities denominated in Japanese Yen Below 2,000 1
2,000 – 2,995 5
3,000 – 29,990 10
30,000 – 49,950 50
50,000 – 99,900 100
100,000 and above 1,000

For more details on minimum bid size, you may refer to the SGX website.

Clearing Fee1 0.0325%
SGX Access Fee2 0.0075%
SGX Settlement Instruction (SI) Fee3 SGD0.35
Philippines Stock Transaction Tax (PH STT)/Fee4 0.63% (for sell orders only)

1except for Structured Warrants which will be at 0.004% of contract value
2Trading fees for structured warrants is 0.001% of contract value from 2 March 2015
3SGX Settlement Instruction Fee of SGD0.35 from 01 February 2019
4Applicable for Philippines stock dual listed in SGX (0.6% PH STT and 0.03% collection fee of gross sale value of transaction)

Note: All fees and charges are subject to Goods & Services Tax (GST). Fees & charges may be subject to changes without prior notice. Please click here for custodian charges.

With effect from 13 November 2017, SGX-ST trading hours will be changed with the introduction of a midday trading break from 1200h to 1300h, during which investors may manage their orders and the indicative equilibrium price will be published. The break will end with an auction before continuous trading resumes at 1300h.

Normal Day Trading Half Day Trading
Opening Routine
Pre-Open 0830 to 0858 – 59* 0830 to 0858 – 59*
Non-Cancel 0858 – 59 to 0900 0858 – 59 to 0900
Trading 0900 to 1200 0900 to 1200
Mid-Day Break
Pre-Open 1200 to 1258 – 59* n/a
Non-Cancel 1258 – 59 to 1300 n/a
Trading 1300 to 1700 n/a
Closing Routine
Pre-Close 1700 to 1704 – 05* 1200 to 1204 – 05*
Non-Cancel 1704 – 05 to 1706 1204 – 05 to 1206
Trade at Close 1706 to 1716 1206 to 1216
Close 1716 1216

* The Pre-Open/Close phase ends randomly at any time within this one minute window and the Non-Cancel phase begins immediately after.

For overnight SGX order(s), you may enter them from 5.26pm onwards.

For more information on SGX trading hours, you may refer to the SGX website.


  • The above are trading hours for normal trading days. Please check with your Trading Representative for earlier closing time for certain holidays and eve of holidays.
  • Orders received during “No Orders Accepted On POEMS” time will be rejected.
  • All time are Singapore Time (GMT+8) unless otherwise stated.


Month Day Date Holidays Settlement Trading Day
January Monday 02 January New Year’s Day (obs) No No
February Friday 9 February Lunar New Year’s Eve Yes Partial
Monday 12 February Lunar New Year No No
March Friday 29 March Good Friday No No
April Wednesday 10 April Hari Raya Puasa No No
May Wednesday 1 May Labour Day No No
Wednesday 22 May Vesak Poya Day No No
June Monday 17 June Hari Raya Haji No No
August Friday 09 August National Day No No
October Thursday 31 October Deepavali No No
December Tuesday 24 December Christmas Eve Yes Partial
Wednesday 25 December Christmas Day No No
Tuesday 31 December New Year’s Eve Yes Partial

# The preceding day is a half-day trading day.

Settlement Date T+2 market days
Settlement Currency SGD, USD, HKD (for HK denominated counters)
Order Amalgamation Yes
Contra Trading Yes
CPF settlement Yes

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This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.  

Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.  


Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
Tel: (65) 6230 8133 Fax: (65) 65383066