SGX lowers rates to spur scrip borrowing and lending activities
Singapore
THE Singapore Exchange (SGX) will replace the fixed rates for its securities borrowing and lending (SBL) programme with variable and more competitive rates with effect from Dec 2, a move which will benefit both borrowers and lenders, the local bourse said in a statement on Wednesday.
Under the current programme, the lending fee rate is fixed at 4 per cent per annum, while the borrowing fee rate stands at 6 per cent per annum.
From next Monday, the borrowing rate for index stocks, Reits (real estate investment trusts) and business trusts will be at 0.5 per cent, while the borrowing rate for the rest of the securities will be at 4 per cent. Lenders' fee…
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