Singapore

Payments & Settlements

SWIFT Completes Latest gpi Trial with Singapore FAST

By Editors | 21/07/2019

All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.

Anti-Money Laundering

Singapore Loansharking Raids Result in 129 Arrests

By Editors | 17/07/2019

Two suspects are believed to have directly carried out unlicensed moneylending, while 94 provided them access to bank accounts to facilitate their activities.

Liquidity Risk

Singapore Can Withstand Severe Adverse Shocks: IMF

By Manesh Samtani | 17/07/2019

The IMF says Singapore’s financial system would continue to be resilient even under very adverse scenarios, but that foreign currency liquidity risk needs to be addressed.

Trading & Investment

Singapore Bankers ‘Flooded’ With Inquiries from Hong Kong – Reports

By Editors | 16/07/2019

Following Hong Kong’s extradition bill protests, wealth managers and private banks have seen increased queries from clients looking to set up channels to move assets to Singapore.

Trading & Investment

SGX RegCo Proposes Price Limits for Auction Mechanism

By Editors | 16/07/2019

SGX already uses dynamic circuit breakers during continuous trading, but there is currently nothing similar used during the opening, mid-day and closing auctions.

Conduct, Culture & Accountability

MAS Raises Conduct Concerns in Financial Advisory Sector

By Editors | 15/07/2019

The MAS has commenced a review of the disciplinary frameworks at financial advisory firms, with a view to eventually sharing best practices and developing further guidance.

Clearing & Post-Trade

CFTC Eases Foreign Clearinghouse Access to US Customers

By Manesh Samtani | 15/07/2019

An alternative compliance regime will be provided for non-US DCOs registered with the CFTC, while exempt DCOs will be allowed to offer clearing through foreign intermediaries.

Trading & Investment

SGX Launches New Trading Engine from Nasdaq

By Editors | 15/07/2019

The upgrade standardises and unifies SGX’s operations, messaging and data infrastructure, enabling greater flexibility, speed and cost-efficiency when launching new products and services.

Tokenisation

Singapore Marks Launch of First Private Exchange with First Listing

By Editors | 13/07/2019

Backed by SGX and licensed by MAS, 1exchange takes private companies’ shares and puts them into an SPV to back digital tokens that can then be listed and traded by investors.