In the bond markets, Singapore’s strong ecosystem of buy-side and sell-side institutions, alongside professional service providers, provides a robust gateway for international capital to be channelled to Asian borrowers. To strengthen our value proposition as Asia’s leading bond centre and building on the success of the Asian Bond Grant Scheme [10] , we launched the Global-Asia Bond Grant Scheme [11] in 2020, which defrays issuance-related expenses for companies with an Asian nexus. In particular, a new funding tier for jumbosized issuances was introduced, with a doubling of the maximum grant amount from $ to $ per issuance for these issuances. In insurance, we aim to be a global capital for Asian risk transfer, oﬀering a wide spectrum of risk financing solutions that goes beyond traditional insurance and reinsurance, to alternative risk financing solutions such as insurance linked securities. Last but not least, we also seek to help Asia transit to a greener and more sustainable future, through the mainstreaming of sustainable financing. 12. In sum, Asia is riding a good growth momentum, with Asian financial markets expected to continue on a path of strong expansion. I will oﬀer some perspectives on trends and opportunities, which I hope will complement your subsequent discussions at this Forum on the Asian outlook, and risks and opportunities in Asian financial markets. Key Trends and Opportunities https://www.mas.gov.sg/news/speeches/2021/riding-the-growth-momentum-in-asia  4/11  12/02/2021  "Riding the Growth Momentum in Asia" – Keynote Speech by Ms Jacqueline Loh, Deputy Managing Director (Markets & Development), …  Harnessing technology and transforming workforce 13.

First, Asian financial markets are transforming in significant ways and we need to equip our workforce with the relevant skills to adapt and transform in tandem. Firstly, the markets will continue to grow in breadth, depth and connectivity, to support the growing needs in this region; The use of technology will be increasingly pervasive, and will transform how financial institutions and markets professionals access and deliver financial services; Jobs will need to be redesigned and transformed to harness the potential of technology and financial institutions would need to support employees to adapt to new work requirements; These winds of change also open up significant opportunities for individuals to acquire new skills and convert to new careers in a wide range of roles. 14. There are immense opportunities as markets expand, and as the potential of technology is harnessed. Last August, a Singapore-based fintech company BondEvalue partnered Northern Trust to complete the world’s first blockchain-based bond transaction on its exchange. This innovation was enabled through MAS Sandbox Express. It allowed investors access to secondary market and purchase bonds at fractions of $ instead of typical bond trades of at least $ making bonds more accessible to a wider investor pool. In September, the Singapore Exchange completed Project Hash, Asia’s first digital syndicated public corporate bond using smart contracts to capture the rights and obligations of parties involved in the issuance and asset servicing, such as the arrangers, depository agents, legal counsel and custodians.