Singapore

HKMA, MAS, ASIC among 12 regulators seeking views from interested parties on new Global Financial Innovation Network initiative, including its role, tools and where it should prioritise activity.

Enhancements to DTCC's Global Trade Repository service in Singapore will support the MAS's next phase of derivatives trade reporting requirements, as well as improve usability and reduce complexity for users.

The arbitrator has deferred judgement on the data sharing dispute until talks on collaboration between the two exchanges on a trading and settlement platform at GIFT City conclude.

Singapore’s benchmark operators have incorporated feedback from market participants following a consultation that ended in February; the new computation methodology will use a waterfall method incorporating wholesale funding and related markets transactions.

MAS asked financial institutions to use additional information like one-time passwords and biometrics to identify consumers over and above existing consumer verification processes.

In the year ahead, the MAS will focus on the use of data analytics as well as boosting industry collaboration in its fight against money laundering and terrorism financing.

Proposals include introduction of auction protocol for liquidating defaulted derivatives clearing members’ positions, with a mechanism to distribute the resulting losses.

Amendments include introduction of a contractual recognition requirement into financial contracts governed by foreign laws, the statutory bail-in regime, and creditor compensation framework, among others.

MAS and Korea's FSC have signed an agreement to provide regulatory support to fintech firms from either country looking to expand in the other.

Singapore Exchange to launch trading solutions allowing privately negotiated OTC FX trades to be cleared like standard FX futures; launch set for 27 August encompassing five currency pairs, including USD/CNH.