Petition to remove Magnus Bocker as the CEO of SGX due to his mismanagement.

seems he is performed well

The market would be much better even SGX did not do anything. All those newly imposed measures are killing the market volume and liquidity. Spent $$$ and failed to merge with ASX, after that try to make some other moves to show off his capability? Well, we have seen the outcome...

Agree

please step down, you are not capable of doing this job.

he should step down

Have some respect for yourself, bockers! Quit now!

he's killing Singapore stock mkt

I love SGX. MB Pls leave

stsp down...magnus bocker

Can someone give a wakeup call to all the remisers out there PLEASE

the Ceo of SGX is paid 3x or 300% more than the CEO of the Hong Kong Stock Exchange which is a far larger exchange in market turnover and market capitalization. The is no justification for Magnus Bocker being paid 3 times more than his counterpart in hong kong which has 50 times the turnover of the SGX in deriavities the big growth area of the two exchanges. Most people dont realize that the hong kong market is 50x the size of the SGX or sgx trading volume is only 2 2.5-5% that of Hong Kong. So is Magnus Bocker 3x more talented and a better ceo than his counterpart in HKSE, a resounding no. He lost $46m trying to take over the ASX which was a non starter from the very beginning as they were well aware of the small tiny size and poorly regulated nature of the SGX.. St Forum published my letter on this debacle. So lets get this petition going

Totally agreed. He must go

CEO candour is pretty much lacking as statistics of significance are replaced or sidestepped because of the inconvenient truth. For instance, in the 2012 Annual Report, it was reported that 10k to 15k CDP accounts traded daily compared to 40k in 2007. This is a statistic that only SGX knows. After the significant decline in trading volumes, 2013AR and 2014AR stopped highlighting this statistic but is instead replaced by "22% more CDP accounts opened" and "19% more subscribers to My Gateway e-newsletter" in the 2014AR. In the 2010AR, Magnus Bocker mentioned "turnover velocity should be double", 2011AR "..turnover velocity of 59% which is far from satisfactory...". Subsequent annual reports stopped mentioning this but we can easily obtain this from the World Federation of Exchange which puts this as 33.8% as at Sep 2014. At the beginning of 2013, Magnus Bocker was widely quoted in the media guiding that SGX expects to have 20 to 40 IPOs of at least $500 million market capitalisation for the year. As at the end of 2013, only 7 IPOs that met this criterion came on board. For some reason, neither the media nor MAS held him accountable for that guidance wherein a normal listed company with such wide variance from guidance, would have earned a reprimand.

Just a few questions. How much does it cost for a team to operate a super computer attached to SGX? The computer could cost a $100m, plus the IT staff and operations staff, the total cost is not small. Would these operators be comfortable just to make a few cents from arbitraging or skimming the difference? They need big profits to justify their presence and operations. There could be at least 10 or 20 such computers in the system. How much would each be making from computer trading to justify their operations? The computer tradings and the advantages in making profits from the system are more than meets the eyes. Would SGX report on what the computer traders are doing in the market? Would SGX report on how many such players are there and release the top 10 or 20 operators and the profits they made since they started to operate in the market? The unfair advantages and the uneven playing field are violations of SGX's rulings and regulations for fair play, insider trading, front running, cornering the market, etc etc. Computer trading must not be allowed in the system. Attaching supercomputers to the SGX system is unfair advantage and unfair trading.They are the main contributors to the demise of the market today.

yes, I do agreed, he must resignd.

All the major stock markets in the world have a tallying of total short positions in a stock and updated promptly. Do we have that in Singapore? Why not? All major markets have an uptick rule for shorting ie one cannot hit the buyer and can only q on the sell side to be taken out. Why would Singapore not implement this uptick rule? All the major exchanges readily admit they always worry of high frequency trading and never try to pretend they understand all the pitfalls of high frequency trading. All major exchanges except maybe the SGX??

This is ridiculous, is this a joke? Are we really asking him to go because the Singapore markets have not done well and commissions are down? Market actions are an aggregate view on what the investors think of the companies currently listed there and the quality of new listings happening in the market. I am afraid that’s precisely the problem with Singapore. The listed companies are showing no real earning growth as there is no domestic market to boast about. Also most Singaporean companies have used China as a potential growth option and we all know what’s happening in China. Furthermore, the poor state of Singaporean innovation and the small market size limits the potential of good new listings. International investors have plenty of markets to choose from, and with India and the US showing recovery in domestic demand it’s but obvious that money will go there. We are suffering from our own doing, our size, our mismanagement of economic affairs. It’s got nothing to do with Mangus. Our recovery will be slow as we encourage change in how companies and governments take and mange risks associated with entrepreneurship. STOP blaming people without giving it due thought. That only makes matters worse. Furthermore, he has taken leaps in the deregulation of the Singaporean exchange which will make it more competitive amongst other exchanges and will continue growing in the future. Also, if it wasn't for Mr. Bocker SGX would have done a lot worse as the management consists of backwards PAP-men wanting to introduce more bureaucracy, completely contradictory to what Magnus wants...

11 years ago Featured

Reduce exchange fees drastically as it is killing the market liquidity. These fees are useless to SGX as they don't improve the quality of market, only fattening the pockets of the management. Just look at the dwelling liquidity and number of IPOs. Not to mention the inefficient IT system