Singapore finalises regulations for mandatory trading of OTC derivatives contracts on organised markets

In 2018, changes to Singapore legislation came into force to empower the Monetary Authority of Singapore "MAS" to mandate the trading of over-the-counter derivatives contracts on organised markets. This was followed by a consultation paper issued by MAS, consulting on proposed draft regulations to operationalise the mandatory trading obligations "Consultation Paper". On 13 March 2019, the finalised rules were published in the new Securities and Futures Trading of Derivatives Contracts Regulations 2019 "Regulations" and MAS also issued its response to feedback received on the Consultation Paper.

In this alert, we provide a summary of the Regulations and their practical implications. We also highlight key points arising from the Consultation Paper and recent related developments between MAS and its counterparts in the EU and US.

View our full alert here.