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Monetary Authority of Singapore consults on remote clearing exemption

Monetary Authority of Singapore consults on remote clearing exemption

26 May 2015 4:30am EDT

The Monetary Authority of Singapore (MAS) sought feedback on proposed amendments to the Securities and Futures Act that would permit remote clearing members who clear futures contracts at Singapore-based central counterparties from the requirement to hold a capital markets services licence in Singapore under certain conditions. This will facilitate expansion of futures clearing business for Singapore-based CCPs who may admit clearing members that are based overseas and who do not have physical operations in Singapore in addition to onshore Singapore-based clearing members.  FIA Asia submitted a response to the MAS which can be accessed in the pdf below.

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FIA Asia - MAS Consultation Paper - 22May 2015.pdf

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FIA Asia - MAS Remote Response - 22May 2015.pdf

 

 

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