The Singapore Exchange (better known as the SGX) is the major stock exchange in Singapore and monitors and regulates the Singapore financial market. The Singapore Exchange is the outcome of the merger of Singapore International Monetary Exchange (SIMEX) and the Stock Exchange of Singapore (SES). The revenues earned by the Singapore exchange are mainly from the securities market and derivatives market holding 72% and 28% of the market respectively.
The Singapore Exchange is the first de-mutualised derivative exchange in the Asia-Pacific. The financial market of Singapore is largely governed by the SGX indices and the market derivatives are monitored by the exchange.
The Monetary Authority of Singapore (MAS) is the central bank of Singapore and has issued the Singapore currency since October 2002 after its merger with Board of Commissioners of Currency. Apart from issuing of currency, the MAS controls and manages the financial market of Singapore while maintaining a stable value for the Singapore dollar.
There are a number of banks in Singapore that control the liquidity flow in the Singapore financial market: Bank of Singapore Limited, Far Eastern Bank Limited, DBS Bank Limited, United Overseas Bank Limited and Oversea-Chinese Banking Corporation Limited. Following a growth in the financial and economic sectors of Singapore, there are a number of foreign banks now coming to Singapore such as American Express Bank, Bank of America, Bangkok Bank, Bank of China, Bank of India, Bank of East Asia, Bank of Tokyo-Mitsubishi, Citibank, Calyon, Indian Overseas Bank, Indian Bank, JPMorgan, Chase Bank, RHB Bank Berhad and UCO Bank.