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Bond Express
Bond Express aims to provide clients with a real-time bond trading experience for a specified list of wholesale and retail bonds, where bid/ask prices shown are firm and executable. These prices are available for immediate bond trade execution by our clients at the available bid/ask volumes where iFAST Financial Pte Ltd (“iFAST”) deals as principal for all Bond Express trades.
Via Bond Express, clients are also able to trade in odd lots (smaller denominations than the Intended Denomination) from as low as 5,000 lot sizes. However, for wholesale bonds, odd lot investments via Bond Express will be applicable for Accredited Investors only. Non-accredited investors can also purchase wholesale bonds via Bond Express but will have to conform to the standard minimum investment denomination for each bond, subject to an investment value of at least SGD 200,000, or its foreign currency equivalent for non-SGD bonds.
There is, however, no restriction on clients’ sell actions via Bond Express.
Bond Express allows you to trade bonds almost instantaneously. If you like the bid/ask prices shown on Bond Express, you may place a Bond Express trade and your order will be processed immediately.
The bid/ask prices shown on Bond Express are prices indicated by iFAST and are available for clients’ immediate execution. Therefore, iFAST deals as principal in all Bond Express trades.
While iFAST commits to facilitate Odd Lot Transactions at all times, iFAST is not obliged by any Applicable Laws to do so.
Anyone can trade via Bond Express. However, only Accredited Investor (FSM+) are able to trade in smaller denomination investments (SGD 5,000) via Bond Express.
Non-accredited investors can also purchase wholesale bonds via Bond Express but will have to confirm to the standard minimum investment denomination for each bond, subject to an investment value of at least SGD 200,000, or its foreign currency equivalent for non-SGD bonds.
There is no restriction on clients’ sell actions via Bond Express.
Bond Express offers clients the opportunity to:
- Invest in bonds / Sell a portion of your bond holdings in smaller lot sizes, minimising your exposure to a particular issuer or industry
- Do away with indicative pricing; Bond Express prices are firm and executable
- Lock in your bond trade at an acceptable price immediately instead of waiting for your bond trade to be filled
Once your Bond Express trade is successfully placed, this trade order will be taken as a firm order and will be processed immediately. As Bond Express trades are processed immediately, these trades are strictly irrevocable.
Purchase transactions placed via Cash Account or Auto-Sweep payment mode will be reflected in your holdings on T (Transaction Date) upon successful execution.
Purchase transactions placed via Post-Trade-Payment mode will only be reflected in holdings after the full payment has been received.
Please go to Bonds > Bond Express for the latest list of bonds available for Bond Express trading.
The available payment methods for your Bond Express trades are as follows:
Pre-Transaction Payment – via Cash Solutions
- Cash Account
- Auto-Sweep Account
No further payment action is required from you after selection of this payment method
Post-Transaction Payment
- Click here for more information regarding Post-Transaction Payment
Kindly make full payment upon the successful placement of your Bond Express trade. Please refer to your email notification for the needed payment amount on your Bond Express trade.
As the contract sizes for Odd Lot Transactions are below its Intended Denomination, these Transactions may be incapable of being executed on the open market. Transfer of Custody
Due to the minimum denomination requirement of clearing systems, securities held in quantities below its Intended Denomination may not be transferred out from iFAST’s custody. Rights to Vote
Given that clearing systems or trustees may only recognize votes cast for security held in its Intended Denomination, iFAST reserves the right to vote, to give instructions or to give consents (or otherwise), on behalf of you, at any meeting or event as conducted pertaining to the security. Amalgamation
Upon settlement, all Odd Lot securities will amalgamate with your existing holdings of the same fixed income security.
Yes, Auto-Sweep Account is allowed for Bond Express transaction for both buying and selling.
Odd lot trading may have no readily ascertainable market prices. As Bond Express facilitates bond trading in smaller denominations as well as trading of bonds which are relatively illiquid in the market, a small spread may, but not always, be applied to indicative market prices of Round Lot trading in the open market. Prices on Bond Express may therefore, but not always, be inferior to those of the Round Lot trading in the open market.