Building The Future Of Singapore Etfs: From Emerging Markets To A Global Hub

This book systematically expounds on the path to capital market upgrades, leveraging exchange-traded funds (ETFs). Using Singapore as a model, it compares the ETF development experiences and regulatory practices of the United States, Europe, mainland China, Hong Kong, and Taiwan, developing a four-dimensional framework: autonomy, efficiency, inclusivity, and sustainability. It also offers a roadmap for the integration of policy, market, and infrastructure.

The book serves as both a compilation of methodology and evidence for academic and policy research, an operational manual for issuers, market makers, authorised participants (APs), exchanges, custodians, and index providers, and a product and ecosystem guide for investors and the wealth management industry.

Looking toward 2030, this book proposes a Singapore-led solution built on thematic ETFs as a breakthrough, interconnection as a driving force, and strong institutions and technologies as the foundation. It outlines a comprehensive framework spanning the product spectrum, participant incentives, market-making/AP mechanism, taxation and regulatory sandbox, multilingual and multi-currency settlement, carbon markets and ESG indices, derivatives, and digital infrastructure. Together, these elements form phased, executable goals with measurable indicators, offering a verifiable blueprint for Singapore to advance from an emerging to a regional and ultimately a global financial hub.