Featured Product

    MAS Consults on Rules for Mandatory Trading of Derivatives Contracts

    February 21, 2018

    MAS proposed regulations to require the trading of over-the-counter (OTC) derivatives on organized markets, to help improve market transparency. This requirement will complete the implementation of G20 OTC derivatives reforms by MAS. Comments are due by March 23, 2018.

    MAS proposes to impose obligations for the most globally traded OTC derivatives, namely interest rate swaps denominated in the US Dollar, Euro and Pound Sterling to be traded on organized markets—that is, exchanges or other centralized trading facilities. These obligations will apply to banks whose gross notional outstanding OTC derivatives exceed USD 20 billion. MAS expects that about 80% of the Singaporean market for these products would have to be executed on organized markets, following the commencement of the proposed trading obligations.

    The US and EU regulatory authorities have already implemented similar trading obligations for the same OTC derivatives products. MAS plans to seek equivalence determinations from the US and EU for exchanges and other centralized trading facilities in Singapore.  This will allow these markets in Singapore to be used by the US and EU market participants to fulfill their trading obligations.

     

    Comment Due Date: March 23, 2018

    Keywords: Asia Pacific, Singapore, Securities, OTC Derivatives, Trading Obligations, Equivalence, MAS

    Related Articles
    News

    BCBS Consults on Revised Disclosures for Market Risk Framework

    BCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks.

    November 14, 2019 WebPage Regulatory News
    News

    FSB Examines Implementation of Resolution Regimes in Financial Sector

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions and sets out plans for further work.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Final Policy on Maintenance of TMTP Under Solvency II

    PRA published the policy statement (PS25/19) that contains the final supervisory statement (SS6/16) on maintenance of the transitional measure on technical provisions (TMTPs) under Solvency II.

    November 14, 2019 WebPage Regulatory News
    News

    BCBS Consults on Disclosure Templates of Sovereign Exposures of Banks

    BCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks.

    November 14, 2019 WebPage Regulatory News
    News

    IAIS Adopts ComFrame, ICS, and Holistic Framework for Systemic Risk

    IAIS adopted a comprehensive set of reforms—Common Framework (ComFrame), Insurance Capital Standard (ICS) Version 2.0, and Holistic Framework for Systemic Risk—that will enable effective cross-border supervision of insurance groups and contribute to global financial stability.

    November 14, 2019 WebPage Regulatory News
    News

    PRA Publishes Templates for Statistical Disclosures Under Solvency II

    PRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive.

    November 14, 2019 WebPage Regulatory News
    News

    FASB Proposes Improvements to Derivatives and Hedging Standard

    FASB proposed an Accounting Standards Update, on codification improvements to hedge accounting under Topic 815, to clarify certain sections of the 2017 hedge accounting standard (Update 2017-12).

    November 13, 2019 WebPage Regulatory News
    News

    FASB Approves Guidance to Assist in Transition to New Reference Rates

    FASB approved an Accounting Standards Update (Topic 848) to provide temporary, optional guidance to ease the potential burden in accounting for, or recognizing the effects of, the reference rate reform on financial reporting.

    November 13, 2019 WebPage Regulatory News
    News

    BIS and MAS Launch Innovation Hub in Singapore

    BIS and MAS launched the BIS Innovation Hub Center in Singapore.

    November 13, 2019 WebPage Regulatory News
    News

    MAS and Industry to Create Framework for Adoption of Responsible AIDA

    MAS announced that it is working with financial industry partners to create a framework for financial institutions to promote the responsible adoption of Artificial Intelligence and Data Analytics (AIDA).

    November 13, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4142