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ARTICLE · 16 MAY 2018

MAS Issues Response To Feedback Received On Proposals For Mandatory Clearing Of Derivatives Contracts

Shook Lin & Bok
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On 2 May 2018, the Monetary Authority of Singapore ("MAS") issued its response to feedback received during the public consultation on proposed regulations for the mandatory clearing of over-the-counter derivatives.

SingaporeFinance and Banking
Eric Chan
Eric Chan
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On 2 May 2018, the Monetary Authority of Singapore ( "MAS") issued its response to feedback received during the public consultation on proposed regulations for the mandatory clearing of over -the-counter ("OTC") derivatives. The draft Securities and Futures (Clearing of Derivatives Contracts) Regulations was first proposed by MAS in a consultation paper published on 1 July 2015 (the "Consultation Paper"), which we had reported on earlier here.

To recap, in July 2015, MAS had proposed to require OTC derivatives to be cleared on central counterparties ("CCPs") to reduce systemic risk in Singapore's OTC derivatives markets, in line with the G20 objectives and recommendations of the Financial Stability Board on OTC derivatives reforms.

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