Singapore Exchange (SGX) — How It Works and What You Can Trade

The Singapore Exchange (SGX) is Singapore’s main securities and derivatives exchange, regulated by the Monetary Authority of Singapore (MAS), where investors can trade equities, REITs, ETFs, bonds, and derivatives denominated primarily in Singapore dollars.

For informational purposes only. Not financial advice.

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What Is the Singapore Exchange (SGX)?

The Singapore Exchange (SGX), officially Singapore Exchange Limited (SGX:S68), is the primary stock exchange for Singapore and one of the largest in Southeast Asia. Founded in 1999 through the merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX), SGX today operates equity, fixed income, and derivatives markets.

SGX is regulated by the Monetary Authority of Singapore (MAS) and is itself listed on SGX (making it a publicly traded company). As at Q1 2026, SGX hosts over 600 listed companies and more than 40 REITs and property trusts, with a total market capitalisation exceeding S$1 trillion.

For Singapore retail investors, SGX is the gateway to investing in local equities, S-REITs, ETFs, Singapore Government Securities (SGS), and corporate bonds. All securities are settled through the Central Depository (CDP), a subsidiary of SGX that holds securities on behalf of investors.

What Can You Trade on SGX?

Equities: Shares of Singapore-incorporated and dual-listed companies. The SGX Mainboard lists larger, more established companies; the Catalist board lists smaller growth companies.

S-REITs and Property Trusts: Singapore is a leading global REIT market. Over 40 REITs and stapled securities trade on SGX, covering industrial, retail, office, hospitality, and healthcare asset classes.

Exchange-Traded Funds (ETFs): A growing range of Singapore- and Asia-focused ETFs including the STI ETF, Nikko AM Singapore REIT ETF, and various bond ETFs.

Fixed Income: Singapore Government Securities (SGS), Singapore Savings Bonds (SSB), and corporate bonds. Retail investors can trade SGS bonds directly via the SGX Bond Pro platform.

Derivatives: SGX operates one of Asia’s largest derivatives markets, offering futures and options on equity indices (Nifty 50, FTSE China A50), currencies, commodities, and interest rates.

SGX Trading Hours and Settlement

SGX equity market trading hours (Singapore Standard Time, SST = UTC+8):

SGX uses a T+2 settlement cycle — trades executed on Monday settle on Wednesday. Settlement is handled through CDP. Short selling of certain securities is permitted through the SGX Securities Borrowing and Lending (SBL) facility.

The Straits Times Index (STI) — SGX’s Key Benchmark

The Straits Times Index (STI) is the benchmark index for Singapore’s equity market, comprising the 30 largest and most liquid companies listed on SGX. Major constituents as at Q1 2026 include DBS Group, OCBC Bank, UOB, Singapore Telecommunications (Singtel), and several S-REITs.

The STI is maintained jointly by FTSE Russell and SGX. Investors can gain diversified exposure to the STI via low-cost ETFs — the Nikko AM STI ETF (G3B) and the SPDR STI ETF (ES3) are the two main vehicles, both available for purchase through any SGX-connected broker.

The STI is reviewed quarterly, and constituents are replaced based on market capitalisation and liquidity criteria.

Opening a Brokerage Account to Trade on SGX

To trade on SGX, Singapore investors need:

1. A brokerage account: Open with an SGX-licensed broker such as DBS Vickers, OCBC Securities, UOB Kay Hian, Lim & Tan, or online brokers like Tiger Brokers, Moomoo, or FSMOne.

2. A CDP account: Most brokers will open a CDP account linked to your brokerage account during the account opening process. CDP holds your securities centrally.

3. SingPass/MyInfo: Account opening can be completed digitally using SingPass and MyInfo for most brokers.

Singapore residents should also consider using their CPF Investment Scheme (CPFIS) or Supplementary Retirement Scheme (SRS) accounts for tax-efficient investing in SGX-listed securities. Visit the CPFIS guide and SRS Account guide on TKN for more details.

Frequently Asked Questions

Disclaimer: Content on The Kopi Notes is for educational purposes only and does not constitute financial advice.