EU close to granting swaps-trading equivalence to Singapore
Planned MAS trading mandate would otherwise seal off local traders from global liquidity
The European Commission is gearing up to deem Singapore an equivalent jurisdiction for trading over-the-counter derivatives, on the back of a new trading obligation being drawn up by the city state, according to two sources. This could be essential to prevent the proposed Singaporean rules from isolating the Asian country’s traders from global liquidity pools.
“Discussions I’ve had with the European Commission show they stand prepared to grant equivalence to Singapore,” says one Europe-based
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