On 22nd September 2008, SGX issued a circular imposing a penalty on non-delivery of share. The penalty will be S$1000 or 5% of the value of the failed trade, whichever is higher. This is in addition to the processing fee of S$30 per contract imposed on all failed trades. The penalty will take effect for trades executed from Thursday, 25 September 2008 onwards.
For failed trade in the buying-in market, non-delivery of shares may be subject to penalty of S$50,000 and/or disbarment from participating in the buying-In market. This measure will take effect from Thursday, 25 September 2008.
To enhance transparency in the market and to deter failed deliveries, SGX is publishing the list of buying-in securities and the volume of shares sought, at 11am every day from 23 September 2008 onwards. Publication will be done via SGXNET and SGX website. After completion of buying-in, SGX will publish the list of securities bought-in (which includes individual counters), the volume and dollar-value at 8:30 am the following business day.
More details is available on SGX website.
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