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Wednesday, 8 June 2011

SGX to offer SGS bond trading

SINGAPORE: Investors will soon be able to trade Singapore government (SGS) bonds on the Singapore Exchange from July 8.

Currently, investors can only trade SGS bonds through dealer banks.

With the new offering, SGX said investors will be able to trade the bonds through their brokers, in a manner similar to the way stocks are traded.

The exchange said this would likely improve both the price transparency and liquidity in SGS bonds.

Investors will also be able to access the bond prices on the SGX website or through their brokers.

A total of 19 SGS bond issues, with maturities of two years or more, totalling S$74 billion will be available for trading on the exchange.

SGX's fixed income market currently comprises corporate bonds and preference shares, some of them approved for investment using Central Provident Fund and Supplementary Retirement Scheme pension savings.

SGX head of fixed income Tng Kwee Lian said: "Trading of SGS bonds on SGX will make the price discovery process more efficient and transparent, thereby reducing trading cost for investors.

"Market makers will also be present, increasing liquidity and making it easier for individual investors to buy and/or sell SGS bonds at any time during the trading day".

As with securities traded on SGX, SGS bonds must be held by SGX's Central Depository (CDP) as custodian before they can be traded.

Investors will be able to view all their holdings, including SGS bonds, via a single statement from CDP.


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