SGX reduced the standard board lot for an initial group of 11 higher-priced securities from 100 shares to 10 on 5 October 2026. SGX data reported by The Business Times show that more than 20,000 trades used 10-share lots in the first session, versus more than 13,000 trades in 100-share lots.
Across the 11 securities, 55% of trades were executed below the previous 100-share board lot. DBS generated about 5,000 10-share trades, while Jardine Matheson had the strongest proportional adoption, with roughly one-third of its trades executed in 10-share lots.
FMI WORLD analysis: The first-day data provide an early market-structure test of whether lowering minimum trade size can broaden access without forcing activity into the odd-lot market. Immediate use of 10-share lots suggests the rule changed execution behaviour, not just nominal affordability.
The durable question is liquidity quality. Smaller tickets can widen participation, but they can also raise message traffic and disperse displayed depth. SGX’s quarterly review mechanism will show whether the reform improves tradability across higher-priced securities and whether more stocks should migrate to smaller lots.
Retail investors, brokers, market makers, SGX-listed issuers, custody and clearing operations, order-management vendors and SGX RegCo.
Watch repeat use after the launch week; spreads and displayed depth; odd-lot activity; broker commission economics; operational message volumes; and SGX’s first quarterly changes to the list of affected securities.
Sources — SGX trading information; SGX implementation announcement, 1 July 2026; The Business Times, 6 October 2026.
FMI WORLD NEWSROOM story reference: FMIWT-20261007-002.