MASNET was launched in 1991 as a communication network to provide efficient and secured communication and data exchange services for the Singapore’s financial sector. Today, MASNET has also grown to provide secure online services to facilitate collaborations between financial institutions and MAS.
Summary of MASNET Services
The online financial information and services accessible through web browsers are :-
- Singapore Government Securities (SGS) market prices are for valuing SGS portfolios held to meet the minimum liquid assets requirement.
- Interest compensation on interbank failed payments - ABS K2 & K3 Rate
- eServices such as the electronic submission of:
- Statutory returns to MAS;
- Representatives notifications and misconduct reporting under the Representative Notification Framework;
- Applications for a Capital Markets Services license for fund management company;
- MASNET Mail; and
- CurrencyNet which allows the banks to notify MAS electronically of cash deposits and withdrawals
The following charges and fees are applicable to financial institutions subscribing to MASNET :-
|MASNET Basic Service|
|Basic subscription (inclusive of 2 accounts)||S$24 per month|
|Subscription of subsequent accounts||S$14 per account, per month.|
|MASNET Access Service1 Subscription Fees|
|Service Subscription Fee2||S$440 per month|
|Subscription - File Concatenation Service Fee||S$75 per month (on top of the service subscription fee)|
|Subscription - File Distribution Service Fee||S$75 per month (on top of the service subscription fee)|
|MASNET Access Service Transmission Charges3|
|Transmission - First 5 Mb of given month||S$0|
|Transmission - Next 100 Mb received by MAS in a given month||3.05¢ per Kb|
|Transmission - Next 200 Mb received by MAS in a given month||1.10¢ per Kb|
|Transmission - Thereafter||0.55¢ per Kb|
Note (1): MASNET Access is a centralized data exchange platform for secure data file transfer among Financial Institutions and counterparties.
(2): MASNET Access Service Subscription Fee will also be applicable to concatenation and distribution project owners.
(3): MASNET Access Service Transmission Charges will also be applicable to concatenation and distribution project owners (concatenation file receiver and distribution file sender).
Last updated on 01 Oct 2018