新交所提议为证券市场增设“收盘交易”时段
新加坡交易所（新交所）正就在证券市场增设收盘交易 (TAC) 时段的提议征询公众意见，计划将该时段放在收盘竞价时段结束之后。在时长 5 分钟的 TAC 交易时段，参与者将只能以收盘竞价时段设定的收盘竞价价格执行定单。TAC 交易时段将适用于现货和单股市场。借助 TAC 交易时段，新交所将把正常交易日收盘时段之前的交易阶段缩短 5 分钟至下午 4 点 55 分，如果是半天交易，则为上午 11 点 55 分。收盘时间仍为下午 5 点 06 分和中午 12 点 06 分。新交所提议的 TAC 交易时段具有三个主要特点：如果没有收盘竞价价格，则不存在 TAC 交易时段；只能以收盘竞价价格并根据时间优先级来匹配定单；以及定单可以修改，但必须全部以收盘竞价价格定价。
SGX proposes new “trade at close” session for securities market
Singapore Exchange (SGX) is seeking public feedback on the proposed introduction of a new trading session for the securities market, the “trade at close” (TAC), which will take place after the closing auction routine ends. During the five-minute-long TAC trading session, participants will be able to execute orders only at the closing auction price set during the closing auction routine. The TAC session will apply to the ready and unit share markets. With the TAC session, SGX will shorten the trading phase preceding the closing routine by five minutes to 4.55pm on a normal trading day, or 11.55am for half-day trading. This will allow the market closing time to remain at 5.06 pm and 12.06 pm respectively. SGX is proposing three main features for the TAC trading session: The TAC session will not occur if there is no closing auction price; Orders will match at only the closing auction price and according to time priority; and Orders can be amended but must all be priced at the closing auction price.
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