March 15, 2019

CFTC and MAS announced the mutual recognition of certain derivatives trading venues in the U.S. and Singapore. CFTC Chairman J. Christopher Giancarlo and MAS Assistant Managing Director Lee Boon Ngiap made this joint announcement at the 44th Annual International Futures Industry Conference, which was hosted by the Futures Industry Association in Boca Raton, Florida.

CFTC issued an order exempting certain derivatives trading facilities regulated by MAS from the requirement to register with CFTC as swap execution facilities (SEFs). Similarly, MAS announced the issuance of regulations exempting certain derivatives trading venues regulated by CFTC from the requirement to be a MAS-authorized approved exchange or recognized market operator before establishing or operating an organized market.

The order granting exempt SEF status to the MAS-authorized approved exchanges and recognized market operators does not affect other requirements under Commodity Exchange Act (CEA) and the CFTC regulations. CFTC has particularly highlighted certain of these continuing requirements in the order, which interested parties should consult for further details as to the precise parameters of the exemption by CFTC. Similarly, the exemption for CFTC-registered SEFs does not affect the other requirements under the Securities and Futures Act (SFA) and MAS’ regulations.

Keywords: Americas, Asia Pacific, US, Singapore, Securities, Derivatives Trading, Swap Execution Facility, Trading Venues, OTC Derivatives, CFTC, MAS

Related Articles
News

US Agencies Consult on Capital Treatment of Land Development Loans

US Agencies (FDIC, FED, and OCC) issued a proposed rule on the treatment of loans that finance the development of land for purposes of the one- to four-family residential properties exclusion in the definition of high volatility commercial real estate (HVCRE) exposure in the regulatory capital rule.

July 12, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: Second Update for July 2019

Under the Single Rulebook question and answer (Q&A) updates for this week, EBA published answers to five questions related to supervisory reporting.

July 12, 2019 WebPage Regulatory News
News

ESMA Updates Manual for European Single Electronic Format in EU

ESMA updated the reporting manual for European Single Electronic Format (ESEF).

July 12, 2019 WebPage Regulatory News
News

FED Updates Supplemental Instructions for Reporting Form FR Y-9C

FED updated the supplemental instructions for FR Y-9C reporting.

July 12, 2019 WebPage Regulatory News
News

EBA Publishes Report on Monitoring Implementation of LCR in EU

EBA published its first report on the monitoring of the implementation of liquidity coverage ratio (LCR) in EU.

July 12, 2019 WebPage Regulatory News
News

EIOPA Consults on Reporting and Disclosures Under Solvency II Review

EIOPA launched a consultation package on supervisory reporting and public disclosure in the context of its work linked with the 2020 Solvency II review.

July 12, 2019 WebPage Regulatory News
News

APRA Applies Additional Capital Requirements to Three Australian Banks

APRA is applying additional capital requirements to three major banks in Australia to reflect higher operational risk identified in their risk governance self-assessments.

July 11, 2019 WebPage Regulatory News
News

IMF Report on 2019 Article IV Consultation on Euro Area Policies

IMF published its staff report in context of the 2019 Article IV consultation on euro area policies with member countries.

July 11, 2019 WebPage Regulatory News
News

FSB to Survey Practices on Cyber Incident Response and Recovery

FSB launched a survey on the industry practices on cyber incident response and recovery.

July 11, 2019 WebPage Regulatory News
News

ECB Appoints New Members of Supervisory Board

The Governing Council of ECB appointed Edouard Fernandez-Bollo, Kerstin af Jochnick, and Elizabeth McCaul as representatives to the Supervisory Board of ECB Banking Supervision, for a five-year non-renewable term.

July 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3441