The grant covers around 80 small and mid-cap stocks and new listings until 31 December 2028. Here is what a market maker does, what tighter spreads could save you, and what S$20 million can and cannot change.
MAS dropped two numbers today — S$1.45 billion for fund managers and S$20 million for market makers — but only one touches your trading account. I break down what a market maker actually does, why the spread is a hidden cost you never see on your contract note, and why government backing does not equal a price safety net. If you top up your dividend stocks regularly or ever need to sell in a hurry, this one affects your wallet.
Key takeaways:
Market makers quote both bid and ask prices, earning from the spread like a money changer
MAS’s Gems grant covers around 80 small and mid-cap stocks plus new listings until 31 Dec 2028
A 2% spread on a S$10,000 trade costs about S$200 round-trip, versus S$100 at 1%
The grant cannot create buyers, and the quietest counters are not first in line
Iggy’s Forensic Disclaimer
This content is produced for educational and informational purposes only. I am not a financial advisor — I am a retail investor who applies forensic analysis to my own portfolio and shares that process publicly. Nothing here constitutes a recommendation to buy, sell, or hold any security, and no specific target prices or personalised financial advice are offered. Stocks assessed under Iggy’s Forensic Yield Standard are benchmarked against a 4.7% minimum yield hurdle; stocks flagged as Growth Watch fall below this threshold but demonstrate clean balance sheet metrics and an identifiable growth catalyst — these carry a materially different risk profile and are not suitable as yield replacements for income-dependent investors. All data is sourced from public filings and verified sources; where data is unverified it is explicitly flagged. All investments carry risk, including the potential loss of principal, and past performance is not indicative of future results. If you are making investment decisions involving CPF, SRS, or personal capital, please conduct your own due diligence or consult a MAS-licensed financial adviser before committing funds.
