Key Participants

Primary Dealers

SGS primary dealers play a critical role in the growth and development of the bond market by carrying out the following functions:

i. Provide liquidity to the SGS bond and T-bill market by quoting two-way prices under all market conditions;
ii. Underwrite issuance at SGS bond and T-bill auctions;
iii. Provide market feedback to MAS; and
iv. Assist in the development of the SGS market.

More information on Primary Dealer contributions can be found here.

The full list of primary dealers is shown below:

  • AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
  • BANK OF AMERICA, NATIONAL ASSOCIATION
  • BARCLAYS BANK PLC
  • BNP PARIBAS
  • CITIBANK N.A.
  • CREDIT SUISSE AG
  • DBS BANK LTD 
  • DEUTSCHE BANK AG
  • MALAYAN BANKING BHD 
  • OVERSEA-CHINESE BANKING CORPORATION LTD
  • STANDARD CHARTERED BANK
  • THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
  • UNITED OVERSEAS BANK LTD

Secondary Dealers

Secondary Dealers are approved secondary financial institutions that are in the business of buying from, or selling to clients SGS bonds or T-bills, whether as a principal or agent.

More information on SGS primary and secondary dealers is available in the Financial Institutions Directory of the MAS website.