Make available fixed income securities to retail investors

I READ with interest the article "MAS seeks views on classification of complex products, including perps" (The Business Times, Nov 4, 2021).

In terms of risk, ordinary shares are considered higher risk compared to fixed income securities (bonds and perpetuals). Currently on the Singapore Exchange (SGX), there are many choices of ordinary shares for retail investors, but not fixed income. There are only a handful of fixed income securities.

Apparently, there is a large population of fixed income securities compared to equities. It may not be known to retail investors as they are traded on the secondary market Over The Counter (OTC) and not on an open public exchange like the SGX.