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Market Passport

Singapore

Change market

Market information

Supporting you

Key market information

  • Local currency

    Singapore
    Dollar (SGD)

  • 2017 GDP

    USD
    324bn

  • Time zone

    GMT
    +8 hours

  • Numbering
    system

    ISIN

  • Main stock
    exchange index

    Straits
    Times Index

Key market figures

Market capitalisation USD 787bn
Number of listed companies 750
2017 value of share trading USD 213bn
Number of ETFs listed 64
2017 value of bonds trading n/a
Number of bonds listed 2,765
Number of futures contracts traded in 2017 n/a
Number of options contracts traded in 2017 n/a

Local market infrastructures

Equities Corporate bonds Government bonds Derivatives
Trading SGX-ST SGX-ST OTC SGX-DT
Clearing CDP CDP n/a SGX-DC
Settlement and custody CDP CDP MAS n/a
Cash leg MAS MAS MAS n/a

Local market authorities and regulators

  • The Monetary Authority of Singapore (MAS) conducts integrated supervision for financial services and financial stability surveillance
  • MAS has delegated the regulatory oversight of the SGX exchanges and clearing houses to SGX itself. The regulation and oversight of any other exchange or clearing house not operated by SGX is still performed by MAS, which is still ultimately the regulator of the securities industry

Market practices (ALL TIMES ARE LOCAL)

SECURITIES
Settlement cycles
Equities T+3
Bonds T+3
Cash Varies
Cut-off times
Equities T+3
Bonds T+3
Cash Varies
Omnibus account/securities Yes*
Omnibus account/cash Yes
Pre-matching Yes
Irrevocable pre-matching No
Short selling No
Cash settlement/DVP Yes
Securities lending Yes
Foreign ownership limits n/a

* CDP approves the operation of omnibus accounts only for foreign institutional clients. They must be located outside Singapore and must not be a fund manager.

Derivatives
Settlement Cash and physical
Trading cut-off Depends on individual products
Clearing cut-off 7.45am to 10.00pm
Tradable currencies USD/SGD/JPY
Account structure members Segregated and omnibus
Account structure non-members Segregated and omnibus
Give-up Yes
Give-up cut-off T+10
Adjustable ITM (In The Money minimum) No
Intra-day margin call Yes
Risk algorithm SPAN
Tolerance limits

SGD25 or equivalent.

Examples of market penalties

The Singapore Exchange (SGX) imposes a penalty of SGD 1,000 or 5% of the value of the failed contract (whichever is higher), as well as a processing fee of SGD 75 per buy-in contract.

Buy-in practice

Buy-in process takes place on T+3 from 3.00pm and will continue on T+4 until the short positions are covered.

BNP Paribas customers benefit from free access to more detailed market information on our NeoLink webportal. Click here to access the Market Profiles or contact your relationship manager.

Supporting you

BNP Paribas Securities Services in Singapore

We are fast becoming one of the premier securities and derivatives clearing provider to banks and broker-dealers in Singapore, with a strong understanding of the needs of this segment, and actively engaging with the market for changes.

Our main services

Core

We offer local clearing and custody to domestic and foreign institutions. Our core services include settlement, on‑exchange clearing, safekeeping, corporate actions, proxy services, cash and collateral management.

Market-specific

  • Bundled execution and custody services
  • Fail coverage
  • Participating Dealer for Exchange Traded Funds (ETFs)
  • Full suite of derivatives trading and clearing services
  • Sophisticated risk management tools for broker-dealers: utilises their portfolios across markets and minimises collateral requirements
  • Global custody access point
  • Full suite of services for investors, asset managers, hedge funds and issuers

What makes us different

  • One of the most active third-party clearers, and the main player actively engaged with the market infrastructures about clearing changes
  • An integrated provider of securities and derivatives services for large institutions
  • One of the most active industry players in market advocacy, lobbying for best practices in post-trade, sharing our European expertise and leadership

Selected market recognition

  • Global Custodian Agent Banks in Major Markets Survey: Global Outperformer 2015 and 2016, Category Outperformer in 2017
  • Global Investor Sub-Custody Survey (2017): ranked first – unweighted

A sound partner

BNP Paribas Securities Services has operated through its Singapore branch since 2009, and has offered clearing services since 2012. It currently has approximately 180 staff.

Contact

For more information, please contact your relationship manager or
Amy Connolly, Head of Relationship Management
amy.connolly@asia.bnpparibas.com

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