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
Previous ArticlePRA Proposes Reporting Amendments to Pillar 2 Liquidity Framework
Next ArticleDNB Publishes Data Quality Checks for Bank Reporting
HM Treasury notified that, after considering all responses, the government intends to bring forward further legislation, when the Parliamentary time allows, to address issues identified in the consultation on supporting the wind-down of critical benchmarks.
EIOPA launched the 2021 stress test for the insurance sector in EU.
UK authorities jointly published the third edition of Regulatory Initiatives Grid setting out the planned regulatory initiatives for the next 24 months.
EC is requesting feedback on the proposed Commission Delegated Regulation on the content, methodology, and presentation of information that large financial and non-financial undertakings should disclose about their environmentally sustainable economic activities under the Taxonomy Regulation.
OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022.
Under the Italian G20 Presidency, BIS Innovation Hub and the Italian central bank BDI launched the second edition of the G20 TechSprint on the lookout for innovative solutions to resolve operational problems in green and sustainable finance.
ACPR published Version 1.0.0 of the RUBA taxonomy, which will come into force from the decree of January 31, 2022.
EBA proposed the regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in EU.
ECB published its response to the targeted EC consultation on the review of the bank crisis management and deposit insurance framework in EU.
BCBS, CPMI, and IOSCO (the Committees) are inviting entities that participate in market infrastructures and securities markets through an intermediary as well as non-bank intermediaries to complete voluntary surveys on the use of margin calls.