Singapore Exchange
Singapore Exchange is Singapore’s integrated securities, derivatives, fixed-income, currency, commodity, clearing and market-data exchange group.
Last updated October 14, 2026
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Overview
Singapore Exchange Limited, commonly known as SGX or SGX Group, is Singapore’s principal exchange operator and one of the major financial-market infrastructures in Asia. The group operates markets and related services spanning equities, equity-linked securities, derivatives, fixed income, foreign exchange, commodities and market data. Its business extends beyond the matching of buy and sell orders: SGX provides listing venues, electronic trading, clearing, settlement, securities depository, trade registration, post-trade processing, technology and information services. SGX was created on 1 December 1999 through the consolidation of Singapore’s principal exchange and market-infrastructure entities. The new holding company brought together the Stock Exchange of Singapore, the Singapore International Monetary Exchange and Securities Clearing and Computer Services. Their assets were transferred into the new structure and the previous shareholders received shares in SGX. This formation combined securities trading, derivatives trading and clearing infrastructure under a single listed exchange group. The company became publicly listed on 23 November 2000 through a public offer and private placement. SGX is unusual among exchange operators in that its own shares trade on the market it operates. The listing gave the group access to public capital while reinforcing its role as a commercial operator of regulated financial infrastructure. Its activities are conducted within Singapore’s regulatory framework, principally under the oversight of the Monetary Authority of Singapore, while its market participants and customers are international. The exchange has stated that a large majority of customers using its electronic trading systems are based outside Singapore. Derivatives and commodities have been important to SGX’s regional strategy. In 2004, the group introduced SGX QUEST, an electronic trading system used for securities and derivatives. In 2006, it launched SGX AsiaClear, an over-the-counter clearing platform intended to reduce counterparty risk and improve liquidity in products such as forward freight agreements and oil swaps. The group subsequently developed substantial activity in iron-ore derivatives clearing. It also pursued commodity-market expansion through the acquisition of the Singapore Commodity Exchange in 2008 and maritime-market expansion through the acquisition of London-based Baltic Exchange in 2016. SGX has repeatedly sought international connections, technology partnerships and cross-border distribution. It opened a representative office in Beijing in 2008 and an office in London in 2010. Its SGX Reach programme modernised the trading architecture and sought to connect international trading communities to Singapore. The group also formed or explored partnerships with overseas exchanges and trading platforms, including the Joint Asian Derivatives Exchange with the Chicago Board of Trade, the Chi-East dark-pool venture with Chi-X Global, and collaborations with Nasdaq OMX. It acquired minority stakes in overseas market institutions including Bombay Stock Exchange and Philippine Dealing System Holdings. The group’s strategic importance also makes it subject to continuing debate about market structure, competition, governance and investor protection. A proposed combination with the Australian Securities Exchange was blocked by the Australian government in 2011 after objections concerning national interest and market concentration. SGX later held discussions with the London Stock Exchange but did not pursue a merger. In response to major speculative price movements involving three listed companies in 2013, SGX and the Monetary Authority of Singapore reviewed market practices and proposed measures involving minimum trading prices, short-position reporting and independent regulatory functions. Today, SGX presents itself as a multi-asset exchange and financial-market infrastructure provider rather than solely a stock…
History
Singapore Exchange emerged from Singapore’s effort to integrate its securities, derivatives and post-trade infrastructure. On 1 December 1999, SGX was established as a holding company and the assets of the Stock Exchange of Singapore, the Singapore International Monetary Exchange and Securities Clearing and Computer Services were transferred into the new structure. Shareholders of the predecessor entities received newly issued SGX shares. The consolidation created a unified exchange group covering cash equities, derivatives trading, clearing and settlement. SGX became a listed company on 23 November 2000 through a public offer and private placement. Its own shares trade on the exchange, and the company subsequently became a component of Singapore-related benchmark indices. The public listing provided a commercial and transparent ownership structure while the exchange continued to operate as regulated financial-market infrastructure. Technology and product diversification shaped SGX’s next phase. SGX QUEST, launched in 2004, provided an electronic platform for securities and derivatives trading. In 2006, SGX introduced AsiaClear, an over-the-counter clearing platform for products such as forward freight agreements and oil swaps. The service was designed to lower counterparty exposure and promote liquidity. SGX also developed a significant role in clearing iron-ore swaps. Its attempt to build a regional derivatives venue through the Joint Asian Derivatives Exchange with the Chicago Board of Trade began in 2006, but the venture ended in 2007 and the contracts moved to SGX’s own platform. The exchange expanded through investments and acquisitions. It purchased a minority stake in Bombay Stock Exchange in 2007 and acquired a 20 percent interest in Philippine Dealing System Holdings in 2008. It also acquired the Singapore Commodity Exchange in 2008, adding commodities to its consolidated business. International representation grew with offices in Beijing and London. A 2009 venture with Chi-X Global created Chi-East, which later received approval to operate a dark-pool platform. SGX’s Reach programme, announced in 2010, aimed to upgrade trading speed, data-centre capability and global connectivity through technology supplied by Nasdaq OMX and other partners. SGX pursued consolidation with other exchanges but faced political and regulatory resistance. Its proposed acquisition of the Australian Securities Exchange was reviewed in Australia and ultimately blocked by the Australian Treasurer in April 2011. SGX withdrew its offer and shifted attention to organic growth and other international opportunities. Discussions with the London Stock Exchange in 2012 did not result in a merger or takeover. Market integrity became a prominent issue after unusually volatile trading in Blumont Group, Asiasons Capital and LionGold in 2013. SGX and the Monetary Authority of Singapore conducted a review and in 2014 proposed measures including a minimum trading price for mainboard issuers, short-position reporting and the creation of independent regulatory bodies. These developments illustrated the exchange’s dual role as a commercial venue and part of Singapore’s investor-protection framework. The group continued to broaden its international and sustainability profile. It acquired the Baltic Exchange in 2016, strengthening its maritime-market activities, and joined the United Nations Sustainable Stock Exchanges initiative that same year. A proposed SGX–Bursa Malaysia trading link announced in 2018 sought to facilitate cross-border trading and post-trade processing, but the plan was placed on hold after political changes in Malaysia. In 2020, SGX was included in the Bloomberg Gender-Equality Index. Its current identity is that of a multi-asset exchange and financial-market infrastructure group, combining listings, trading, clearing, settlement, depository, technology and data services for Singaporean and international participants.
- 2020
Inclusion in Bloomberg Gender-Equality Index
[1]SGX is included in the index for its reported diversity and gender-equality commitments.
- 2016
Baltic Exchange acquisition
[1]SGX acquires the London-based Baltic Exchange.
- 2011
ASX merger proposal is blocked
[1]The Australian government rejects SGX’s proposed acquisition of ASX.
- 2010
SGX Reach is announced
[1]The group announces a major trading-technology and connectivity programme.
- 2008
Singapore Commodity Exchange becomes part of SGX
[1]SGX completes the acquisition of Singapore Commodity Exchange.
- 2006
AsiaClear launches
[1]SGX begins OTC derivatives clearing through AsiaClear.
- 2004
SGX QUEST launches
[1]SGX introduces an electronic trading system for securities and derivatives.
- 2000
SGX is listed
[1]The exchange becomes publicly listed through a public offer and private placement.
- 1999
Singapore Exchange is established
[1]SGX is formed as a holding company by integrating Singapore’s securities exchange, derivatives exchange and clearing-services infrastructure.
Products and positioning
A regional, multi-asset exchange and post-trade infrastructure group connecting Singapore with international capital and derivatives markets.
Equities and listed securities
SGX Securities Market
The securities market provides listing and secondary-trading facilities for shares and other listed instruments. It serves issuers seeking access to capital and investors seeking exposure to Singaporean, regional and international companies. SGX’s main listing venue is complemented by Catalist, a sponsor-supervised board intended to support growing companies.
Exchange-traded derivatives
SGX Derivatives Market
SGX offers exchange-traded derivatives across financial and commodity-linked underlyings. The derivatives business is designed for hedging, investment and trading by institutional and other qualified market participants, with exchange execution supported by clearing and settlement infrastructure.
OTC derivatives clearing · 2006
SGX AsiaClear
AsiaClear is SGX’s OTC clearing platform. It was introduced to support trade registration and clearing for products including forward freight agreements, oil swaps and other commodity-related derivatives, helping participants manage counterparty exposure through central clearing.
Trading technology · 2010
SGX Reach
SGX Reach is the exchange’s electronic trading and connectivity programme. It was developed to improve execution speed, market access, data-centre capability and connections between Singapore and overseas trading communities.
Growth-company listing venue · 2007
SGX Catalist
Catalist is SGX’s sponsor-supervised listing board for growth companies. It replaced SESDAQ in 2007 and uses approved sponsors to assess prospective issuers, conduct due diligence and advise listed companies on continuing compliance and corporate-governance obligations.
Post-trade infrastructure
Central Depository services
SGX’s central depository and related subsidiaries provide securities clearing, settlement and custody-related infrastructure. These services support the completion of transactions after trading and the maintenance of electronic ownership records.
Controversies
2013
Speculative trading in three mainboard stocks
Sharp price movements and subsequent collapses involving Blumont Group, Asiasons Capital and LionGold led SGX and the Monetary Authority of Singapore to review trading activity and market safeguards. The episode prompted proposals addressing minimum trading prices, short-position disclosure and regulatory independence.
Marketing campaigns
- 2016Sustainable Stock Exchanges participation
International
SGX joined the United Nations Sustainable Stock Exchanges initiative, aligning the exchange with international efforts on sustainability and responsible investment.
Outcome. SGX became a participating exchange in the initiative.
- 2010SGX Reach
Singapore · International
A technology and connectivity initiative intended to build a faster trading environment, expand data-centre capability and link global market participants to SGX.
Outcome. Implemented as part of SGX’s electronic-market infrastructure development.
Brand decisions
2018
Proposed SGX–Bursa Malaysia trading linkStrategyBackground
SGX and Bursa Malaysia sought to make cross-border share trading more efficient and to connect related clearing and settlement processes.
Action taken
The exchanges announced a proposed trading link, with supervisory and enforcement arrangements to be developed by the relevant authorities.
Aftermath
The plan was put on hold after the 2018 Malaysian general election.
2014
Strengthen safeguards after the 2013 stock-price episodeStrategyBackground
A joint SGX and Monetary Authority of Singapore review followed extreme price movements in three mainboard stocks and concerns about speculation and possible market manipulation.
Action taken
The institutions proposed a minimum trading price for mainboard issuers, reporting of short positions and three independent regulatory bodies.
Aftermath
The proposals formed part of a broader effort to improve market integrity and investor protection.
2011
Withdraw the proposed ASX acquisitionM&ABackground
SGX proposed to acquire the Australian Securities Exchange, but the transaction faced political opposition and was ultimately rejected by the Australian government.
Action taken
SGX withdrew its offer after the Australian Treasurer announced that the merger would be blocked.
Aftermath
SGX pursued other international growth and market-development opportunities instead of the proposed combination.
- Tokyo Stock Exchange — The Tokyo Stock Exchange expressed concerns that the transaction could accelerate exchange consolidation and isolate Tokyo.
2007
Replace SESDAQ with CatalistOtherBackground
SGX reviewed the operating model of its secondary listing board and consulted on alternative market structures.
Action taken
SGX replaced SESDAQ with Catalist, using an approved-sponsor model for issuer assessment and continuing compliance.
Aftermath
Catalist became the exchange’s sponsor-supervised growth-company board.
Recent events
iFAST launches four ETFs on SGX[2]
Reported:
iFAST launched four iFAST Xtrackers UCITS exchange-traded funds, which were listed on the Singapore Exchange on 22 October 2026. The ETFs provide exposure to Japanese, South Korean and Taiwanese equities, as well as global artificial intelligence and big data companies.
SGX and PSE sign capital-markets cooperation memorandum[3]
Reported:
Singapore Exchange (SGX) and the Philippine Stock Exchange (PSE) signed a cooperation memorandum to deepen collaboration on depositary receipts, cross-listing and market access, and to explore ways for issuers to access capital across both markets and expand investment and trading opportunities.
SGX agrees to acquire MaxxTrader[4]
Reported:
Singapore Exchange (SGX) agreed to acquire the MaxxTrader FX trading platform from FlexTrade Systems for $125 million. The transaction was expected to be completed by December.
Options collaborates with SGX on ultra-low-latency connectivity[5]
Reported:
Options announced a collaboration with Singapore Exchange to provide ultra-low-latency connectivity for order entry and market data, adding its Managed Colocation services to the SGX Tier 1 site.
SGX, Trumid and Hillhouse establish XinTru joint venture[6]
Reported:
Singapore Exchange, Trumid and Hillhouse Capital established XinTru, a joint venture focused on operating an Asian bond electronic trading platform.
XinTru announces planned launch of Trumid XT[6]
Reported:
XinTru announced that it would launch the Trumid XT bond trading platform in 2021; the source describes a planned launch, not a completed one.
SGX and Baton integrate collateral workflow[7]
Reported:
Singapore Exchange integrated with Baton Systems to automate and standardize the end-to-end collateral workflow for its clients.
Phillip SGD Money Market ETF begins trading[8]
Reported:
The Phillip SGD Money Market ETF began trading on the Singapore Exchange with S$100 million in initial assets under management.
GF Securities and Singapore Exchange sign cooperation memorandum[9]
Reported:
GF Securities and Singapore Exchange signed a memorandum of cooperation to promote deeper connections between the Chinese and Singapore capital markets, including plans to expand coverage and services and facilitate investor access.
SGX and Cassini partner on UMR preparation service[10]
Reported:
Singapore Exchange and Cassini Systems partnered to provide SGX market participants with complimentary analyses to help them prepare for Uncleared Margin Rules requirements. They also plan webinars to educate market participants on compliance.
Showing the 10 most recent.
Sources21 sources
- 1Singapore Exchangeen.wikipedia.org
- 2iFAST在新加坡交易所推出四只ETFsbr.com.sg
- 3新交所与菲律宾证券交易所签署资本市场合作备忘录zaobao.com.sg
- 4新加坡交易所同意收购 MaxxTraderthetradenews.com
- 5Options 与 SGX 合作提供超低延迟连接服务finanznachrichten.de
- 6新交所、Trumid与高瓴资本成立XinTru合资公司zaobao.com.sg
- 7SGX与Baton集成抵押品工作流程prnewswire.com
- 8Phillip新加坡元货币市场ETF开始交易businesstimes.com.sg
- 9广发证券与新交所签署合作备忘录finance.sina.com.cn
- 10新交所与Cassini合作提供UMR准备服务sbr.com.sg
- 11新加坡交易所扩大与富时罗素的合作financialpost.com
- 12新加坡交易所公布2020财年创纪录收入finance.sina.com.cn
- 13中信证券与新加坡交易所签署战略合作协议finance.sina.com.cn
- 14尚乘国际在新加坡交易所挂牌交易straitstimes.com
- 15新加坡交易所推出500万美元援助计划sbr.com.sg
- 16United Hampshire US REIT 在新加坡交易所上市sbr.com.sg
- 17新加坡交易所宣布任命Ng Yao Loong为副首席财务官sbr.com.sg
- 18新加坡交易所宣布计划在竞价时段实施价格限制sbr.com.sg
- 19广发证券与新交所签署合作备忘录 促进双方更深层次的联通合作finance.sina.com.cn
- 20新交所与富时罗素签约 扩大战略合作伙伴关系zaobao.com.sg
- 21SGX partners with Cassini systems in preparation for 2021 UMR regulation - The TRADEthetradenews.com
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