What Singapore Exchange Limited does

Singapore Exchange Limited (SGX) operates Southeast Asia's largest stock exchange by market capitalization at over US$640 billion as of May 2026, headquartered at 2 Shenton Way in Singapore. The company runs an integrated multi-asset marketplace spanning equities, exchange-traded funds (53 funds with record S$19 billion AUM), derivatives (FX, commodities, interest rate, and equity index futures and options), fixed income, currencies, commodities, and the upcoming OTC gold clearing system for Loco Singapore. Underlying infrastructure includes electronic securities and derivatives trading platforms, clearing house operations, the Singapore Depository Receipts (SDR) facility now spanning 32 counters, FTSE Russell-indexed products, and FX price feeds distributed through the Pyth Network Data Marketplace. The exchange also retains the Baltic Exchange (acquired 2016), a London-based shipping freight rate benchmark provider.

Revenue is generated through transaction fees on trading volumes (securities daily average traded value of S$1.51 billion, derivatives at 30.5 million contracts in May 2026), recurring listing and membership fees (15 new equity listings in H1, triple the year-earlier figure), and market data subscriptions. H1 FY2026 delivered record revenue of S$736.2 million (+7.9% YoY) and adjusted net profit of S$357.1 million (+11.6% YoY), with the FICC segment posting a 12.5% increase in net revenue to S$178.9 million. Go-to-market combines sales-led enterprise outreach to large corporate issuers (S$2 billion+ market cap for the Nasdaq dual-listing Global Listing Board), institutional asset managers (channelled via the MAS S$6.5 billion Equity Market Development Programme), retail broker distribution, and ecosystem partnerships with six global banks for the gold hub initiative.

The exchange is publicly listed on its own board under ticker S68, governed by the Monetary Authority of Singapore (MAS) and SGX Regulation (SGX RegCo), with strategic positioning reinforced by major 2026 initiatives: the Global Listing Board partnership with Nasdaq, an OTC gold clearing system launching end-2026, Asian government bond futures, mini JGB futures, and broadened SDR cross-border access. Customer cohorts span corporate issuers (including Chinese, Japanese, Indian, and Gulf-region listings), institutional investors, retail investors, FX market participants, and bullion market participants served through a hybrid segmentation model.

Name

Singapore Exchange Limited

Legal name

Singapore Exchange Limited

Website

https://sgx.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Singapore Exchange Limited operates Southeast Asia's largest stock exchange by market capitalization, offering integrated multi-asset trading across equities, derivatives, FX, commodities, and OTC gold clearing, serving corporate issuers, institutional and retail investors, and global financial institutions.

Ownership category

akta.pro rank

Product category

Securities and Derivatives Exchange

NAICS

Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF) (FSAFAEAC)

akta.pro secondary industries

Corporate Bond Trading Platforms (FSAFACAB), Equities Trade Execution Platforms (ATS/MTF/ECN) (FSAFANAA)

Keywords

• Securities trading
• Derivatives trading
• Exchange listing
• Market data services
• Clearing services

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Securities Trading Revenue: Revenue from securities trading including equities, ETFs, and other listed securities. Securities daily average traded value reached S$1.51 billion, the highest in five years. Securities market turnover rose 66% year-on-year to S$34.6 billion in January 2026.
2. Derivatives Trading Revenue: Revenue from derivatives contracts including FX, commodities, and interest rate futures. Derivatives volume rose 20% year-on-year to 30.5 million contracts in May 2026, with record 38.3 million contracts in March 2026. FX futures and options hit 8.3 million total contracts in January 2026.
3. Fixed Income, Currencies and Commodities (FICC): FICC segment posted 12.5% increase in net revenue to S$178.9 million, driven by strong commodities and FX trading activity.
4. Listing Fees: Revenue from listing companies on the exchange. 15 new equity listings in H1, triple the five recorded a year earlier. Singapore led Southeast Asia IPO market in 2025 with nine deals raising about US$1.6 billion.
5. Market Data Services: Revenue from providing market data including prices, indices, and reference data to market participants.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels1 record

Core offering

Singapore Exchange Limited (SGX) operates as a multi-asset exchange providing securities trading (equities, ETFs, structured products), derivatives trading (commodities, FX, interest rate futures), listing services for corporate issuers, clearing and settlement infrastructure, and market data distribution. SGX also runs sub-brands such as the Global Listing Board (Nasdaq dual listing), Singapore Depository Receipts, iEdge indices, and an upcoming OTC gold clearing system.

Product overview

Singapore Exchange Limited operates as a diversified financial marketplace offering securities trading (equities, ETFs, structured products), derivatives (commodities, FX, interest rates, indices), and capital market infrastructure. Key products include the Global Listing Board (dual-listing bridge with Nasdaq), Singapore Depository Receipts for international access, iEdge indices, physical gold ETFs, and OTC clearing systems. The exchange serves as Singapore's primary equities and derivatives marketplace with integrated post-trade services.

Differentiator

Problem solved

Functional benefit

Brands

• iEdge Singapore Next 50 Index: Index tracking the 50 next-largest companies on SGX after STI constituents
• Global Listing Board (GLB)
• Singapore Depository Receipts (SDRs)
• Catalist Board

Quantifiable outcome

• Securities trading value increased 70% year-on-year to S$45.8 billion in May 2026
• +4 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• NasdaqcoreStrategic or Co-development Partner · 7 May 2026SGX and Nasdaq partnership to launch Global Listing Board (GLB) enabling dual listings with minimum S$2 billion market cap requirement. Companies can list simultaneously on both exchanges using a single prospectus and harmonized rules. The Securities and Futures (Amendment) Bill was passed to establish the regulatory framework.
• FTSE RussellcoreTechnology or Integration · 31 March 2026FTSE Russell introduced benchmarks for new Asia Pacific government bond futures on SGX, building on long-standing partnership to develop derivatives in Asian bond markets focusing on liquid segments of sovereign yield curves.
• Monetary Authority of Singapore (MAS)coreStrategic or Co-development Partner · 28 March 2026MAS leading Singapore's gold hub initiative with four focus areas: gold-related capital market products, clearing and settlement system, vaulting standards, and central bank vaulting services. MAS also providing S$6.5 billion Equity Market Development Programme and S$30 million Value Unlock programme.
• Singapore Bullion Market Association (SBMA)coreStrategic or Co-development Partner · 28 March 2026SBMA working with MAS on gold hub initiative, including developing gold-related capital market products and clearing settlement system standards.
• World Gold CouncilminorStrategic or Co-development Partner · 28 March 2026World Gold Council part of working group including major financial institutions such as DBS, ICBC Standard Bank, JPMorgan, UBS, UOB, SGX, to develop Singapore's gold market infrastructure.

Scale indicators17 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Hong Kong Exchanges and Clearing Limited (HKEX): HKEX is Asia's largest exchange operator and SGX's most direct competitor, operating multi-asset trading across equities, derivatives, commodities, and fixed income, with deep China-connect connectivity. Both venues compete head-to-head for IPO listings and regional trading volumes, and HKEX serves as the benchmark Asian peer for SGX.
• Japan Exchange Group (JPX): JPX operates the Tokyo Stock Exchange alongside Osaka Exchange derivatives and is one of Asia's largest multi-asset exchanges. SGX has built dedicated Japanese government bond futures products, evidencing active competition for Asia derivatives flow, while both exchanges target similar Japanese and Asian institutional trading books.

Regional players

• Bursa Malaysia: Bursa Malaysia operates Malaysia's primary multi-asset exchange offering equities, derivatives, ETFs, and Islamic securities. As a fellow Southeast Asian exchange, it is a regional peer contending with SGX for listings and cross-border capital flows within ASEAN.
• Indonesia Stock Exchange (IDX): IDX is the Indonesian national exchange operating equities and derivatives. SGX recently overtook Indonesia in market capitalization for Southeast Asia, making IDX a direct benchmark for regional listings competitiveness, IPO activity, and intra-ASEAN capital allocation patterns.
• National Stock Exchange of India (NSE): NSE is India's dominant exchange operator spanning equities, derivatives, and clearing. SGX has launched Indian government bond futures and coking coal futures tied to Indian demand, indicating strategic overlap in addressing Indian investor hedging needs versus locally traded products on NSE.

Broad incumbents

• Nasdaq, Inc. Nasdaq is both SGX's Global Listing Board partner and a broader competitor in global exchange services, operating marketplaces, clearing, market technology, and index businesses. Comparable as a large multi-asset exchange operator with established global listings franchise.
• Intercontinental Exchange (ICE): ICE operates a global network of regulated exchanges and clearing houses across futures, equities, fixed income, and OTC markets, including commodities benchmarks similar to Baltic Exchange. Its multi-asset, multi-jurisdiction model and ownership of benchmark franchises positions ICE as a strategic comparable for SGX's diversification path.
• CME Group: CME Group is the world's largest derivatives marketplace offering futures and options across interest rates, FX, equities, commodities, and cryptocurrencies. SGX's expansion into Asia bond futures, FX options (8.3M contracts), and commodities places it in direct competition for global derivatives flow share.
• Deutsche Börse Group: Deutsche Börse operates the Frankfurt Stock Exchange, Eurex derivatives, and Clearstream post-trade services across multiple asset classes. As a vertically integrated European exchange operator with strong fixed income and clearing franchises, it serves as a comparable template for SGX's multi-asset, clearing-led growth strategy.
• London Stock Exchange Group (LSEG): LSEG operates the London Stock Exchange, Turquoise, curve trading, FTSE Russell indices, and post-trade infrastructure including Baltics-adjacent data services. Comparable as a global multi-asset exchange and data infrastructure operator with index franchise (FTSE Russell), overlapping with SGX's Baltic Exchange and iEdge index businesses.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sgx
• YouTubeyoutube.com/sgx
• Facebookfacebook.com/sgx.mygateway
• LinkedInlinkedin.com/company/sgx

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Singapore Exchange Limited