Buy and Sell SGS and MAS-issued Securities: For Institutions
Institutions can buy Singapore Government Securities (SGS) bonds, Treasury Bills (T-bills), Cash Management Treasury Bills (CMTBs), MAS Bills and MAS Floating Rate Notes (FRN) at auctions, or buy and sell them on the secondary market.
Buy at Auction
- What You Will Need
- Institutions will need to open a trading account with a primary dealer.
- How to Apply
- • You can submit your auction bid through a primary dealer on or before auction day.
• Primary dealers need to submit all bids by noon on the auction day.
- Auction Dates
- Check the issuance calendar for scheduled auctions, announcements and results.
- Method of Sale
- Uniform price auction.
Non-competitive bids are only accepted for SGS bonds and T-bills.
Competitive bids are accepted for all SGS and MAS-issued securities.Click here to find out more about how auctions are conducted.
- Decide on Your Investment Amount
- • The minimum bid amount for SGS bonds, CMTBs and T-bills is S$1,000, and in multiples of S$1,000 up to the allotment limits.
• The minimum bid amount for MAS Bills and MAS FRN is S$1,000, and in multiples of S$1,000. There are no allotment limits. - Results
- After an auction closes, you can check the results about an hour later on the issuance calendar.
- Settlement
- Settlement for auctions is T+3 on a delivery-versus payment (DVP) basis.
Buy and Sell on the Secondary Market
- What You Will Need
- Institutions will need to open a trading account with a primary dealer.
- How to Trade
- Institutions can buy and sell SGS and MAS-issued securities through the following channels:
• Over-the-counter
• Through primary dealers’ dealer-to-client platforms
• In addition, primary dealers can also deal on Bloomberg E-bond platform and through brokers. - Trading Hours
- 9am to 11.30am and 2.00pm to 4.30pm Singapore time (Monday to Friday)
- Decide on Your Investment Amount
- Typically S$5 million
- Settlement
- Settlement is T+1 on a DVP basis over the MAS Electronic Payment System (MEPS+).