Singapore

One market which will never be accused of “ lip service ” when it comes to innovation is Singapore , which proudly sits at the forefront of exploratory initiatives with some of the world ’ s largest custodians . Through pilots , sandbox initiatives and getting buy-in from financial service providers prominent in Singapore , the market has become a global leader in fintech , pushing the boundaries of AI , quantum technology and digital assets . The most notable of these is Project Guardian , a collaborative initiative between policymakers and the financial industry to enhance liquidity and efficiency of financial markets through asset tokenisation . With an overall score of 5.66 , the Singapore market is sitting comfortably at Good , beating both the global average and its 2023 score . With a wide range of clients this year it is those in the $ 250 million- $ 1 billion bracket that have rated this market the highest at 6.02 . With all bar one category beating the global average , it is Relationship Management ( 6.30 ) which has the highest score , closely followed by Client Service ( 5.98 ). Only Securities Lending has seen a decline in scores - falling 0.48 - but remains in the Satisfactory segment . T + 1 has been the hot topic for the majority of markets and Singapore is no exceptions . Exactly when a move will occur is still up for debate , but settlement cycle reduction for major markets appears to be inevitable at this point .