Iggy's Journal: From October, DBS Gets Ten Times Cheaper to Buy Into. Here's What Lower Lot Sizes Actually Do to Trading Volume.
26 September 2026, Morning
Podcast
SGX just cut the minimum lot size from 100 shares to 10 for 11 blue chips, DBS among them. The affordability headline is real, but I don't think it's actually the interesting part of this story.
The Numbers
Those 11 names already drive roughly 35 percent of all trading on the exchange. That matters because the liquidity premium from a smaller lot size is mostly earned at the illiquid end of the market, where a high minimum ticket genuinely keeps people out. Making an already-liquid stock slightly easier to enter doesn't create the same effect. If DBS sits near S$75, your minimum ticket drops from about S$7,500 to about S$750 once the change takes effect on 5 October, letting you scale into a position in smaller steps instead of committing everything at once. Existing odd-lot holders benefit too, a 40-share holding becomes four clean 10-share lots under the new structure, though 41 shares still leaves one lone share sitting outside any lot.
My Personal Take
This is a market-structure change, not a valuation signal, and I want to be direct about that because 5 October is exactly the kind of date that gets treated as a catalyst when it isn't one. Nothing about DBS's business, its balance sheet, or its dividend changes because the lot size did. What actually changes is who can enter and how gradually, and that's a genuinely useful shift for anyone building a position slowly rather than dropping a lump sum in one go. But don't confuse easier access with a reason to expect a price move, those are two completely different things, and mixing them up is how people end up reading a plumbing fix as a market signal. Full breakdown of which names are affected and what the mechanics actually look like is in today's episode.
📺 YouTube: https://youtu.be/rLIPHq-E6aU
📩 Substack: https://investingiguana.com/p/dbs-gets-ten-times-cheaper-from-october
Not financial advice. Iggy's Forensic Compliance Standards apply.
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