Buy and Sell SGS Bonds and T-bills on the Secondary Market: For Individuals

Individuals can buy or sell Singapore Government Securities (SGS) bonds and Treasury Bills (T-bills) on the secondary market anytime before maturity. You can trade SGS bonds on the Singapore Exchange (SGX) through your securities broker. You can also buy or sell SGS bonds and T-bills with any dealer banks 

How to Buy and Sell on the Secondary Market

Note: Prices in the secondary market may change day-to-day according to market conditions. If you sell your SGS before maturity, the price may be higher or lower than what you paid for them.

You can buy and sell SGS bonds and T-bills in the following ways:

Trade on SGX (SGS Bonds only)

If your SGS bonds are held in your CDP or SRS account, you can trade them on the SGX through your securities broker. You can also buy SGS bonds on the SGX using cash or SRS funds.

Fees
Trading on the SGX has transaction and brokerage costs.
Trading Hours
From 9am to 5pm, with a break from 12 pm to 1pm.

Note: SGS bond prices quoted on SGX are market prices and include accrued interest (known as the “dirty price”). 

The daily closing prices shown on MAS are bid rates quoted by primary dealers. These exclude any accrued interest (known as the "clean price").

Trade at Dealer Banks (SGS Bonds and T-bills)

You can buy or sell SGS bonds or T-bills through DBS, OCBC or UOB by visiting their main branches. You should indicate whether you are using cash, SRS or CPF Investment Scheme (CPFIS) funds.

Bank Contact  Branch Address 
 DBS  1800-111 1111  12 Marina Boulevard Level 3
 UOB  1800-222 2121  80 Raffles Place
 OCBC 1800-363 3333   65 Chulia Street

What you will need

To Trade on SGX

You will need:

  • A trading account with a securities brokerage firm.
  • If you are using cash, you will need an individual Central Depository (CDP) account. 
  • If you are using SRS funds, you will need an SRS account with one of the three SRS operators (DBS/POSB, OCBC and UOB).
To Trade at Dealer Banks

You will need:

  • If you are using cash, you will need an individual Central Depository (CDP) account. 
  • If you are using SRS funds, you will need an SRS account with one of the three SRS operators (DBS/POSB, OCBC and UOB).
  • If you are using CPFIS-OA funds, you will need a CPF Investment Account with one of the three CPFIS agent banks (DBS/POSB, OCBC and UOB).
  • If you are using CPFIS-SA funds, there is no need to create a CPF Investment Account.

 

After You Trade

Your purchase or sale of SGS bonds and T-bills will be reflected in the respective accounts. 

  • For cash applications: You can check your CDP statement.
  • For SRS application: You can check the statements from your SRS Operator (DBS/POSB, OCBC and UOB are SRS operators).
  • For CPF-OA application: You can check the CPFIS statement sent by your agent bank (DBS/POSB, OCBC and UOB are CPFIS agent banks).
  • For CPF-SA application: You can check your CPF statement.