MAS Guidelines on Risk Mitigation Requirements for OTC Derivatives

By Regulatory News

January 17, 2019

MAS published guidelines on risk mitigation requirements for non-centrally cleared over-the-counter (OTC) derivatives contracts. The guidelines address trading relationship documentation, trade confirmation, valuation, portfolio reconciliation, portfolio compression, dispute resolution, and governance. The annex contains a table listing the possible terms for trade confirmation.

The guidelines are intended for entities exempted under section 99(1)(a), (b) and (c) of the Securities and Futures Act (Cap. 289) for dealing in capital markets products that are not centrally cleared OTC derivatives contracts on the requirements set out in regulation 54B of the Securities and Futures (Licensing and Conduct of Business) Regulations. The guidelines should be read in conjunction with Securities and Futures (Licensing and Conduct of Business) Regulations.

Keywords: Asia Pacific, Singapore, Banking, Securities, OTC Derivatives, Securities and Futures Regulation, Risk Mitigation, Guidelines, MAS

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