Welcome to Bondsupermart Live

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Update:

Effective 1st September 2025, bonds available on Bondsupermart Live and Bond Express will have reduced processing fees of 0.35% or a minimum of SGD 1.88 (or equivalent in the respective currency, e.g., USD 1.88). Previously, the rate was 0.35% or a minimum of SGD 10 (or equivalent in the respective currency, e.g., USD 1.88).

Please note that US Treasuries, other government bonds, SGS, and MGS will have a rate of 0.1% or a minimum of SGD 1.88 (or equivalent in the respective currency, e.g., USD 1.88). This new pricing structure enables smaller investors to save on minimum fees when trading lower nominal values. Click here to view the pricing structure.

Introduction

The global bond market is a vast and diverse market, with a wide range of investment options and risk profiles. In terms of size, the global bond market is estimated to be worth over US$100 trillion (notably, there are 14 zeros in 100 trillion), making bonds one of the largest asset classes, significantly larger than the global stock market. This makes bonds an attractive asset class for investors seeking to diversify their portfolios and generate regular income.

Opaque Price Discovery

Despite the massive asset value, buying and selling bonds directly is not as readily available and transparent as it is in the stock market. Some of the roadblocks for investors include limited price transparency, a lack of market data, a dealer-dominated market, and over-the-counter trading, which leads to wide bid-ask spreads. These challenges can result in higher trading costs, reduced liquidity, and increased risk for investors, making it more difficult for them to achieve their investment objectives

Launch of Bondsupermart Live

One of the core motivations for launching Bondsupermart Live is to tackle the aforementioned roadblocks. Bondsupermart Live will operate as a centralised bond marketplace where orders are matched dynamically with other investors, market makers, and counterparties. Initially, only United States Treasuries (“UST”) will be available on Bondsupermart Live, with more bonds to be added for trading in the coming months. Below, we will share a useful Q&A that you will find helpful in understanding more about Bondsupermart Live.

Useful Q&A on Bondsupermart Live

1. What is Bondsupermart Live?

Bondsupermart Live operates as a centralised bond marketplace where orders are matched dynamically with other investors, market makers, and counterparties. It offers a live trading experience for a specified list of Corporate and Government bonds, allowing clients to trade in Full or Odd Lots with real-time bid/ask prices. Clients can either execute trades immediately at prevailing prices or queue at a limit price, with their orders will be reflecting on the queue accordingly. iFAST Financial Pte Ltd (“iFAST”) may act as a market maker for certain Bondsupermart Live trades to improve liquidity.

2. What is the difference between Bondsupermart Live and Bond Express?

Bondsupermart Live operates as a centralised bond marketplace where your orders are dynamically matched and filled with those of other investors, market makers, and counterparties. This setup provides liquidity and flexibility in executing bond trades efficiently. iFAST Financial Pte Ltd (“iFAST”) may act as a market maker for certain Bondsupermart Live trades.

Bond Express provide clients with real-time trading experience for specific list of bonds in Odd Lot sizes only where it can be executable at the firm bid/ask prices shown. These prices are available for immediate bond trade execution by our clients subjected to the availability of the bid/ask price and volume. Unlike the Bondsupermart Live, clients are unable to queue at their desired target price in the Bond Express. iFAST Financial Pte Ltd (“iFAST”) deals as principal for all Bond Express trades.

Features	Bondsupermart Live	Bond Express
Real-Time Trading	✔	✔
Full Lot Bond Trading	✔	✕
Odd Lot Bond Trading	✔ (Coming Soon)	✔
Firm and Executable Price	✔	✔
Able to queue	✔	✕

3. Who can trade via Bondsupermart Live?

Anyone can trade via Bondsupermart Live. However, only Accredited Investor (FSM+) are able to trade in smaller denomination (investment value less than SGD 200,000).

Non-accredited investors can also purchase bonds via Bondsupermart Live 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 are no restrictions on clients’ sell actions via Bondsupermart Live.

4. What are the trading hours for Bondsupermart Live?

Bondsupermart Live Trading Hours – SGT time (Mondays to Fridays, excluding scheduled holidays)

• Pre-opening: 8.30am – 8.58am
• Non-cancellation period: 8.58am – 9.00am
• Continuous Trading: 9.00am – 5.30pm

Note: Live trading will not be available outside of Bondsupermart live trading hours.

Please refer below for Bondsupermart Live scheduled holidays

• New Year’s Day i.e. 1 Jan
• Lunar New Year Day 1
• Lunar New Year Day 2
• Good Friday
• Labour Day i.e. 1 May
• Christmas Day i.e. 25 December

How to access Bondsupermart Live

➢ Hover over Bonds and select Bonds (Full Lot) from the menu.

➢ From the Market dropdown select Bondsupermart Live – FULL or click the Bondsupermart Live shortcut button. To trade bonds in smaller denominations, toggle to Odd Lots.

* Bondsupermart Live - Odd Lots trading will be available in the next phase

➢ 1. The Full Lots tab will be highlighted by default. You may switch to other tabs for Odd Lot (BondExpress) or the OTC market trading.

➢ 2. View the market depth of buyers and sellers at different price levels.

➢ 3. Enter your details, including Account Info, Payment Method, Nominal Value, Limit Price, and Order Validity.

➢ 4. Click Preview Order, then enter your password to confirm the order.

➢ Click the GTD button to place a Good-Till-Date (GTD) order, then select your desired expiry date.

How to access Bond Express

➢ To access the Bond Express market, select it from the Market dropdown list or click the BondExpress shortcut button.

➢ 1. The Odd Lots tab will be highlighted by default. You may switch to other tabs for Full Lot or the OTC market trading.

➢ 2. In the Bond Express market, bid/ask prices are firm and available for instant execution, subject to bid/ask volume availability.

➢ 3. Enter your details, including Account Info, Payment Method, and Nominal Value.

➢ 4. Click Preview Order, then enter your password to confirm the order.

➢ Bond Express trading hours are 9:00 AM – 5:00 PM, Monday to Friday, excluding scheduled holidays.

W-8Ben Declaration

➢ For US source income bonds, a W-8BEN declaration may be required. Please go to the Account Settings page to complete the declaration.

➢ Click on Account Setting

➢ Click the hyperlink to proceed with the online W-8BEN declaration.

➢ Tick the checkbox for the account number you wish to declare.

➢ Ensure the W-8BEN form details are prefilled correctly.

➢ Enter your password for verification.

Speak to us

Keen to invest in bonds or need investment recommendations? Feel free to speak to our friendly and professional advisory team at advisory@fundsupermart.com.

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