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 under Resources.
