Introduction

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

MASNET Charges

The following charges and fees are applicable to financial institutions subscribing to MASNET :-

Monthly Subscription

$15 per subscriber. $5 for each additional user identification (except that where the Subscriber subscribes for more than one (1) user identification, the user identification assigned to the Subscriber's liaison officer will not be subject to the monthly subscription charge).

Connect Time

8¢ per minute or any part thereof.

Storage

$3 per month for the first 3 Megabytes of storage.
Additional storage at 16¢ per Mbyte per day.

MASNET Access Subscription Fee*

$400 per month.

MASNET Access Transmission Fee*

First 5 MB received by MAS in a given month $0
Next 100 MB received by MAS in a given month $2.80 per 100 Kbytes in parts of 1 KByte
Next 200 MB received by MAS in a given month $1.00 per 100 Kbytes in parts of 1 KByte
Thereafter $0.50 per 100 Kbytes in parts of 1 KByte

 
Note (*): "MASNET Access" means batch data transmitted from one Subscriber to another Subscriber normally through leased line connections.

Last updated on 27 Oct 2016