Singapore Exchange The growth of the rubber and tin industries in Malaya provided the impetus for the issue of shares from the early years of the 20th century, and for the subsequent establishment of the Malayan Stock Exchange in 1960, with trading rooms in Kuala Lumpur and Singapore. This joint arrangement came to an end in 1973 when the currency inter- changeability agreement between Singapore and Malaysia was terminated, leading to the formation of the Stock Exchange of Singapore Limited (SES) in the same year.

SES was renamed the Singapore Exchange (SGX) on 1 December 1999, after it became an integrated securities and derivatives exchange, following the merger of its operations with the Singapore International Monetary Exchange.

SGX comprises two divisions: the SGX- Securities Trading Division (SGX- ST), for trading of shares and bonds; and the SGX- Derivatives Trading Division (SGX- DT), for trading of derivative products. SGX- ST operates a fully electronic and floor- less exchange. As with other exchanges, it allows firms to raise capital via stock listings on either the main or the junior board (Sesdaq), and allows investors to trade in a variety of assets ranging from shares and bonds, to futures and other derivative instruments.

On 23 November 2000, SGX itself was listed as a counter on its own main board. This demutualisation turned the exchange into a profit- making entity.

See also Central Limit Order Book.