New Brand Finance data shows SGX’s brand value reaching $636 million as investors seek stability
SINGAPORE, 19 August 2026 – The Singapore Stock Exchange (SGX) remains Southeast Asia's most valuable exchange brand in the Exchanges 10 2026 ranking by Brand Finance, the world’s leading brand valuation consultancy.
SGX's brand value rose 8% to USD636 million in 2026, reflecting growing investor demand for stable, diversified market platforms amid heightened global uncertainty. Although it slipped one place to eighth globally, SGX continues to strengthen its position as a key gateway to Asian capital markets, supported by positive revenue expectations and strong demand across its multi-asset product suite.
SGX's brand value growth is underpinned by the performance of continued revenue expansion. As investors increasingly shift capital towards safe-haven markets amid ongoing tariff uncertainties, Singapore's relatively low baseline tariff environment is helping support growth in securities trading activity and equity derivatives volumes. At the same time, SGX is strengthening its Fixed Income, Currencies and Commodities business through accelerated product development and broader client acquisition efforts across geographies, customer segments and trading sessions, reinforcing its position as Asia's leading multi-asset exchange.
Alex Haigh, Managing Director, Brand Finance Asia Pacific, commented:
“SGX’s growth shows that the exchange is still building equity in a highly competitive sector. The more interesting story is not just its brand value rise, but the quality of the growth: SGX is benefiting from defensive capital flows, stronger revenue expectations, and a broader platform that extends beyond traditional listings. Its challenge now is to convert Singapore’s market stability and reform momentum into stronger listing activity, which will be key to closing the gap with larger global exchanges.”
SGX's diversified business model and strategic partnerships with exchanges across the region continue to support resilient financial performance and international market reach.
While the exchange faces competition from larger markets such as Hong Kong and the US and has experienced relatively modest IPO activity in recent years, ongoing listing reforms aimed at streamlining the IPO process, alongside Singapore's SGD5 billion (approximately USD3.9 billion) programme to support investment in domestic equities, are expected to strengthen market liquidity and attract new listings.
With more than 30 potential IPOs reportedly in the pipeline and the Straits Times Index reaching record highs in 2025, SGX is well positioned to capitalise on renewed momentum in Singapore's capital markets.
Global Insights
Nasdaq remains the world’s most valuable exchanges, with its brand value rising 2% to USD3.2 billion, driven by increased revenue forecasts, continued benefits from the Adenza acquisition, strong demand for market services, and growing contributions from its data, analytics and technology businesses.
HKEX retains its position as the strongest exchanges brand globally, with a Brand Strength Index (BSI) score of 87.7/100 and an AAA brand strength rating.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
