Does Singapore Have a Stock Exchange? SGX Guide

Does Singapore have a stock exchange?

Yes — the answer to "does singapore have a stock exchange" is affirmative: Singapore’s principal organised securities marketplace is the Singapore Exchange (SGX). SGX is a demutualised, listed exchange group that operates markets for equities (Mainboard and Catalist), fixed income, derivatives, commodities-linked products and associated clearing, settlement and depository services. This guide explains what SGX is, how its market is structured, its regulatory framework, recent tokenization pilots, and how international investors and issuers access Singapore’s capital markets.

What you will learn: a concise answer to the question "does singapore have a stock exchange", an overview of SGX’s market segments, listing routes and requirements, its regulatory context, digital-asset pilots, and practical next steps for investors and issuers.

Overview of the Singapore Exchange (SGX)

The Singapore Exchange (SGX) is Singapore’s principal stock exchange group and a regional capital-market infrastructure provider. SGX was demutualised and listed itself, and it operates a suite of markets and post-trade services that include:

• A primary equities market with two main listing boards (a regulated Mainboard for established companies and Catalist for growth companies under a sponsor-led regime).
• Fixed income and bond listing and trading platforms for corporates, banks and sovereign issuers.
• Derivatives markets that list futures and options tied to equity indices, commodities-related contracts and FX-linked products.
• Clearing, central counterparty (CCP) and settlement services that provide risk management and finality for trades.

SGX serves domestic and international issuers and investors across Asia and beyond, positioning itself as an ASEAN gateway for capital-raising and investment.

History

SGX’s modern form reflects restructuring in the late 1990s and early 2000s. Key milestones include:

• Demutualisation and formation: The Singapore Exchange was formed following the demutualisation and merger of multiple market functions in 1999–2000, and the listed SGX group consolidated trading and post-trade services under a commercial model.
• SGX listing: The exchange operator itself became a listed entity, aligning commercial incentives with market development and transparency.
• Strategic developments: Over years SGX expanded product coverage (derivatives, ETFs, commodities-linked contracts) and invested in technology and market data services. SGX has also pursued partnerships and pilot programs to explore digital securities and tokenization starting in the early 2020s.

These steps transformed SGX from a local trading facility into a regional market infrastructure group with global connectivity.

Market structure and operating entities

SGX runs multiple market functions and legal entities that together provide a full-service capital market.

SGX Securities Trading (Mainboard and Catalist)

• Mainboard: The Mainboard is SGX’s primary listing platform for established companies. Listing on the Mainboard requires demonstrable financial track records, minimum free-float and market-cap thresholds, and compliance with ongoing disclosure and corporate-governance rules.
• Catalist: Catalist is a sponsor-supervised board designed for growth companies and start-ups that may not meet Mainboard profit or operating-history thresholds. Instead of historic financial tests, Catalist companies list via an admission process managed by approved sponsors who perform due diligence and ongoing oversight.

Both boards offer issuers access to institutional and retail investors in Asia and globally through nominee and custodial networks.

Fixed income and bond markets

SGX hosts bond listings and provides trading platforms for fixed-income instruments issued by sovereigns, supranationals, corporates and financial institutions. The exchange and associated market systems support transparent price discovery and post-trade reporting for bonds, and Singapore’s role as a regional bond hub attracts both local and cross-border issuers.

Derivatives, commodities and FX markets

SGX operates derivatives markets for equity-index futures and options, interest-rate and FX-linked products, and commodity-linked contracts that serve hedging and speculative needs. Its derivatives ecosystem includes market-makers, participants from institutional desks and cleared products through its clearing house.

Clearing, settlement and depository services

SGX provides clearing and settlement functions (including central counterparty services) to mitigate counterparty risk and ensure finality. These services are essential for reducing systemic risk in both cash and derivatives markets and for supporting efficient cross-border trading and custody arrangements.

Key indices and market data

• The Straits Times Index (STI) is Singapore’s flagship benchmark index and tracks a basket of large-cap, liquid companies listed on SGX. The STI is widely used as a performance benchmark for Singapore equity exposure.
• SGX also publishes other indices covering sector and thematic exposures.

As a market summary, SGX lists hundreds of issuers across its Mainboard and Catalist. As of mid-2024, SGX listed several hundred companies with a combined market capitalization in the high hundreds of billions of U.S. dollars and significant derivatives activity. For precise, up-to-date figures for listed companies, combined market capitalization and average daily turnover, consult SGX’s official market statistics published periodically.

Trading hours and market access

SGX operates in Singapore Time (SGT, UTC+8). Local trading sessions align with standard business hours in the Asia time zone, and international investors access SGX-listed securities through:

• Licensed brokers and custodians that offer access to SGX markets.
• International custodial arrangements and nominee structures that allow foreign investors to hold SGX securities.
• Sponsored listing and depositary arrangements where applicable for cross-listings or dual-listings.

Institutional and retail investors outside Singapore typically trade SGX securities via brokers who provide order routing, custody and settlement services. Settlement cycles and currency denomination (often SGD; some instruments are also listed in USD) are important operational considerations.

Listing requirements and market segments

SGX maintains distinct listing frameworks to match issuer profiles:

• Mainboard eligibility typically requires a proven financial track record or prescribed profit, market capitalization and free-float requirements, plus minimum consolidated operating history.
• Catalist provides an alternative route for growth-stage companies and relies on sponsor oversight rather than strict profit tests; sponsors must carry out due diligence and ensure ongoing regulatory compliance for listed issuers.

Both boards require robust disclosure, continuous reporting and compliance with corporate-governance standards. Detailed eligibility criteria, sponsors’ obligations and admission procedures are published by SGX and the relevant regulatory authorities.

Regulation and oversight

SGX operates as the exchange operator and enforces listing rules, trading rules and market conduct standards. The Monetary Authority of Singapore (MAS) is Singapore’s central bank and financial regulator; MAS provides statutory oversight of financial markets, licensing frameworks and prudential rules.

• SGX enforces market rules and listing standards for issuers and participants.
• MAS issues licenses, prudential requirements and guidance that affect market participants, including brokers, custodians and entities engaging in digital-asset projects.

This two-tier approach — an exchange enforcing operational rules and a national regulator setting law and prudential standards — underpins investor protection and market integrity in Singapore.

International partnerships and links with other exchanges

SGX maintains partnerships and interoperability initiatives designed to broaden liquidity and offer complementary services. Examples of cross-border cooperation include data- and product-sharing arrangements, joint product listings, and technology partnerships. SGX has engaged with international market infrastructure and financial institutions to expand derivatives liquidity, provide investor access to Asian securities, and explore digital-asset use cases.

These cross-border links help position SGX as a regional gateway, making it easier for foreign issuers to reach Asian investors and for global investors to obtain Singapore-listed exposures.

Role in regional capital markets

SGX acts as an ASEAN gateway: it connects issuers seeking Asia-focused capital to a diverse investor base, and it provides international investors with access to Southeast Asian listings and derivatives. Sectors with notable representation on SGX include finance, real estate investment trusts (REITs), commodities-linked firms, and regional industrial and consumer companies.

SGX’s geographic location and regulatory stability attract multinationals, regional banks and sovereign-linked issuers that want access to Asian investors under a regulated framework.

Digital-asset, tokenization and blockchain initiatives

SGX has publicly explored tokenization and distributed-ledger technology (DLT) pilots. Key points:

• Pilot programs: SGX and Singapore market participants have participated in pilot projects to test tokenized securities, tokenized bonds and DvP (delivery-versus-payment) concepts that use DLT to improve settlement speed and transparency.
• Partnerships: SGX has engaged in collaborations with technology firms, banks and supply-chain finance providers to test digital platforms for asset tokenization and post-trade processes.
• Regulatory context: Singapore’s regulatory framework — overseen by MAS — provides licensing pathways and guidance for digital-asset activities (including payment services, custody and security-token frameworks) while distinguishing regulated securities venues from crypto-asset trading platforms.

As of March 2025, traditional exchanges globally continued to announce tokenization initiatives. For example, the New York Stock Exchange announced plans to build a tokenization platform that drew public scrutiny; critics noted missing technical specifics and regulatory details. As of March 2025, press reports highlighted that the NYSE announcement faced questions about blockchain choice, tokenomics and governance. In contrast, SGX’s earlier pilots (which began in the early 2020s) emphasized measured, pilot-driven approaches and coordination with regulators.

Sources for these developments include official SGX announcements and contemporaneous industry reporting. When evaluating tokenization projects, regulators and market participants place emphasis on technical design, regulatory compliance, and operational integration with existing clearing and custody systems.

How SGX differs from cryptocurrency exchanges

To answer another common clarification: SGX is a regulated securities and derivatives exchange, not a retail cryptocurrency exchange. Key differences include:

• Product scope: SGX lists traditional securities, bonds, and cleared derivatives. Cryptocurrency exchanges focus on spot and derivatives trading of crypto-assets.
• Regulation and licensing: SGX operates under capital-markets rules and MAS oversight; retail crypto trading platforms operate under different licensing regimes when they offer token custody or trading (for example, under Singapore’s Payment Services Act and relevant licensing frameworks).
• Clearing and settlement: SGX operates central clearing and settlement systems, while crypto trading venues may use different custody and on-chain settlement mechanisms.

If you are exploring crypto trading or token wallets, consider regulated custody and wallet options. Bitget’s wallet solutions are designed for secure custody and Web3 access; for digital securities pilots or tokenized assets, always check whether the asset is regulated and where it is offered.

Accessing Singapore markets from abroad (investor considerations)

International investors should consider several operational points when accessing SGX-listed securities:

• Currency denomination: Many SGX securities are quoted in Singapore dollars (SGD), though some instruments and ETFs trade in U.S. dollars. Currency exposure and hedging should be considered.
• Broker selection: Use brokers or custodians who can provide SGX market access, custody, settlement and appropriate tax documentation.
• Foreign-investor rules: Singapore permits substantial foreign participation; specific local rules may apply for certain asset classes or real-estate related listings.
• Settlement and custody: Settlement cycles and nominee structures vary; institutional investors typically use custodial chains and global custodians with Singapore capabilities.

For investors wanting digital custody for tokenized assets or on-chain exposures, consider regulated wallet providers. Bitget Wallet provides options for secure custody and Web3 integration; check licensing and regulatory disclosures when using any wallet for tokenized securities.

Recent developments and trends

• Tokenization pilots: SGX and Singapore market participants continued to pilot tokenized bond and securities programs in the early 2020s, emphasizing regulatory coordination and incremental pilots rather than large-scale rollouts.
• ESG and sustainability: SGX has adopted listing and disclosure guidance to increase sustainability reporting by issuers, aligning with investor demand for environmental, social and governance (ESG) transparency.
• Regional growth: SGX continues to position itself as an ASEAN and Asia gateway, improving product diversity (REITs, ETFs, derivatives) and data services for cross-border investors.

As of March 2025, broader industry momentum around tokenization had attracted attention from multiple legacy exchanges. Press coverage in March 2025 documented large exchanges announcing tokenization strategies — for example, the NYSE’s tokenization announcement — and academic critiques highlighted the need for technical and regulatory detail in those plans. These developments illustrate both opportunity and caution: exchanges and regulators are experimenting, but robust implementation requires clear technical designs and regulatory engagement.

Practical example: tokenization context and a comparative note

• Comparative status: Some traditional institutions have moved beyond initial announcements to specific pilot implementations (for example, certain European and Singapore pilots that issued tokenized debt instruments), while others remained in planning phases as of early 2025. Industry reporting in March 2025 observed variation across institutions in specificity and readiness.
• Why this matters to SGX users: SGX’s measured pilot approach and Singapore’s clear regulatory engagement mean market participants can observe controlled experiments with tokenization before wide adoption.

Frequently asked operational questions

Q: Does Singapore have a stock exchange that lists international companies? A: Yes. SGX lists domestic and international issuers and offers facilities that can support cross-border listings and investor access.

Q: Can retail investors outside Singapore trade on SGX? A: Yes, through brokers and custodians that provide SGX market access; settlement and custody arrangements differ by provider.

Q: Is SGX a crypto exchange? A: No — SGX is a regulated securities and derivatives exchange. Crypto trading activities in Singapore are carried out on licensed crypto trading platforms under separate regulatory regimes.

Q: Has SGX implemented tokenization? A: SGX and Singapore market participants have conducted pilots and experiments with tokenized securities and bonds. These initiatives are typically pilot-driven and conducted with regulatory consultation.

How SGX fits into the global tokenization conversation (context from recent reporting)

As of March 2025, press reports described a wave of tokenization announcements by legacy exchanges. Coverage highlighted differences in approach: some institutions issued specific tokenized products, while others published broad intentions. Academics and industry analysts cautioned that tokenization plans require detailed technical architectures, clarity on permissioning, tokenomics, and robust regulatory coordination. SGX’s cautious, pilot-first approach and Singapore’s clear regulatory pathways have made the country and its exchange a notable environment for experimenting with tokenized bonds and securities.

See also

• Singapore Exchange (SGX) — general information and market statistics
• Straits Times Index (STI)
• Monetary Authority of Singapore (MAS)
• Tokenized securities and delivery-versus-payment (DvP)
• Catalist listing framework

References and further reading

• SGX official market statistics and listing manuals (for the latest figures on listings, market capitalization and trading volumes)
• MAS regulatory guidance on digital assets and payment services
• Industry reporting on tokenization pilots (examples include early SGX pilots and comparative announcements by other exchanges)
• Academic commentary and industry critiques on tokenization announcements (noting the March 2025 reporting that raised questions about technical specifics and regulatory strategy for some major tokenization proposals)

Further exploration and next steps

If you came here asking "does singapore have a stock exchange" and want to act on that knowledge:

• For issuers: review SGX’s listing manuals and consult approved advisors or sponsors for Catalist or Mainboard admission requirements.
• For investors: choose a licensed broker or custodian with SGX access and confirm currency, settlement and tax implications.
• For those exploring tokenized securities or digital custody: monitor SGX pilot outcomes and use regulated wallets and custody providers; Bitget Wallet is one option for secure Web3 access and custody integration where regulated solutions apply.

Explore more resources from SGX and MAS to stay current. If your interest is trading or custody of digital assets, consider regulated platforms and wallets that meet your jurisdictional and compliance needs. Start by reviewing official market statistics and listing guides, and contact licensed professionals for tailored operational or legal advice.

Call to action: Learn more about trading support and wallet custody options — explore regulated custody and digital-asset tools like Bitget Wallet for secure Web3 access and consider licensed broker partners to access SGX markets.

Reported dates and sources note: As of March 2025, industry press reported tokenization announcements by large exchanges and commentary raising questions about technical and regulatory detail. For time-stamped SGX market statistics and listing data, refer to official SGX publications and MAS regulatory updates.