The Monetary Authority of Singapore (MAS) oversees the Central Depository (Pte) Ltd (CDP) and manages the clearing and settlement system for Singapore Government Securities (SGS). Settlement procedures must be in accordance with the operating rules of the MAS Electronic Payment System (MEPS). MEPS is a real-time gross settlement system designed for funds transfer in SGS transactions. An upgraded version (MEPS+) was adopted in December 2006 to allow market participants immediate settlement of funds and to facilitate a more streamlined flow of payment.

The Central Depository (Pte) Ltd (CDP) operates the clearing and settlement system for securities traded on the Singapore Exchange Securities Trading Ltd (SGX-ST) and corporate debt securities.

Since Singapore Government Securities (SGS) are scripless, ownership is marked as a book entry in an investor's dealer account. All corporate bonds are also scripless. Therefore, ownership is marked as a book entry in an investor's dealer account at the Central Depository (Pte) Ltd. (CDP). A description of the Singapore Exchange’s (SGX) regulatory function is linked below.