Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
Definitions and Interpretation
Chapter 1 Introduction
Chapter 2 Sponsors
Chapter 3 Disciplinary and Appeals Procedures, and Enforcement Powers of the Exchange
Chapter 4 Equity Securities
Chapter 5 Reserved
Chapter 6 Reserved
Chapter 7 Continuing Obligations
Chapter 8 Changes in Capital
Chapter 9 Interested Person Transactions
Chapter 10 Acquisitions and Realisations
Chapter 11 Takeovers
Chapter 12 Circulars, Annual Reports and Electronic Communications
Chapter 13 Trading Halt, Suspension and Delisting
Chapter 14 Transition Rules
Appendices
Practice Notes
Practice Note 13A Procedures for Trading Halt and Suspension
Code of Corporate Governance 2012
SGX-ST Rules
CDP Clearing Rules
DVP Rules
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Rule Amendments

  Versions
(3 versions)
 

Practice Note 13A Procedures for Trading Halt and Suspension

Cross-referenced from Rules 1301, 1302 and 1303 and paragraph 23 of Appendix 7A

Part I Introduction

1. This Practice Note provides guidance on the procedures for trading halt and suspension.
2. A trading halt is a short term trading stoppage requested by an issuer to disclose material information. It is generally requested for a minimum of thirty minutes to a maximum of three market days. When a trading halt is being lifted, a stock will enter into the phase that the market is then in.
3. A suspension is generally a longer term trading stoppage that can be requested either by an issuer or imposed by the Exchange. When a suspension is being lifted, a stock will enter into an adjust phase for a minimum duration of 15 minutes before normal trading commences.
4. In a trading halt, orders in the system are not purged until the end of the market day while for a suspension, all orders are purged at the time of the suspension.
5. The Exchange will normally only halt or suspend the trading of an issuer's securities at the request of the issuer. The sponsor is responsible to advise the issuer and notify the Exchange if it forms the view that a trading halt or suspension is warranted. Where there is a difference in opinion between the sponsor and the issuer, the Exchange will take into account both the sponsor's and the issuer's views when acting on such requests.

Amended on 29 September 2011.

Part II Trading Hours

6. Our trading hours are from 9.00 am to 5.00 pm. Opening Routine is a 30-minute session before trading commences at 9.00 am, i.e. 8.30 am to 9.00 am. Closing Routine will run for 6 minutes after 5.00 pm, i.e. 5.00 pm to 5.06 pm.

Amended on 1 August 2011.

Part III Procedures for Trading Halt and Suspension

7. A trading halt or suspension can be applied at any time. When an issuer wishes to request for a trading halt or suspension in its securities during trading hours, it must first contact the officers in Market Control ("MC"). After alerting the MC officer, the issuer can then send the SGXNET announcement to request for a trading Halt or suspension.
8. In the SGXNET announcement, issuers should state the reason for requesting the trading halt or suspension. The announcement should include the statement required under Rule 753(2).
9. Issuers are to observe the following guidelines when requesting for a trading halt or suspension:
(a) During trading hours (9.00 am to 5.00 pm)

Please call and alert Market Control before releasing the request via SGXNET.
(b) Before or after trading hours

Please call and alert Market Control between 7.30 am and 8.30am although the SGXNET request can be released anytime after the close of the previous market day and before 8.30am on the day of the trading halt or suspension.

Amended on 1 August 2011 and 29 September 2011.

Part IV Procedures for Lifting of Trading Halt and Resumption of Trading From Suspension

10. For both trading halt and suspension, trading can resume only on the quarter-hour between 8.30 am to 4.45pm for lifting of trading halt and between 9.00 am to 4.45pm for resumption of trading from suspension.

Amended on 1 August 2011 and 29 September 2011.

11. Issuers must allow at least 30 minutes of dissemination time after a material announcement is made and before trading resumes.
12. Issuers are to observe the following guidelines when issuing an SGXNET announcement to request for a "Lifting of Trading Halt or Resumption of Trading From Suspension":
(a) During trading hours (9.00 am to 5.00 pm)

Please call and alert Market Control before releasing the request via SGXNET.
(b) Before or After Trading Hours

Please call and alert Market Control between 7.30 am and 8.30 am although the SGXNET request can be released anytime after the close of the previous market day and before 8.30am on the day of the Lifting of Trading Halt or Resumption of Trading from Suspension.

Amended on 1 August 2011 and 29 September 2011.

Part V SGXNET Templates

13. Issuers whose securities have been halted or suspended and wish to resume trading upon commencement of trading on a market day are advised to disclose both their material announcement and SGXNET request for resumption of trading by 8.30 am.
14. Issuers must use the correct template when sending in the above requests. Issuers can choose from the following four templates:
a. Request for Trading Halt;
b. Request for Suspension;
c. Request for Lifting of Trading Halt; or
d. Request for Resumption of Trading from Suspension.

Amended on 29 September 2011.