Singapore clearing mandate timed to avoid US/Europe overlap
With sufficient clearing options now available MAS is ready to set out clearing mandate
Singapore is building on the recent agreement it signed with European regulators recognising the equivalence of clearing houses based in the city-state, and has taken steps to start mandating the clearing of certain classes of over-the-counter derivatives.
The Monetary Authority of Singapore released a consultation on July 1 that proposes the clearing of Singapore dollar fixed to floating swaps, linked to Singapore's swap offer rate, and their US dollar equivalents that are fixed to Libor. In
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