In March 2019, the Commodity Futures Trading Commission (CFTC) and the Monetary Authority of Singapore (MAS) announced they had reached agreement on the mutual recognition of certain derivatives trading venues in the US and Singapore, helping to improve efficiency in cross-border trading between participants in those countries.
This guide describes the practical implications of how cross-border trading will work following this agreement, and sets out the issues that market participants should consider. In particular, it analyzes the effect of mutual recognition on the order flow of trades executed on US and Singapore venues, and highlights areas where further alignment is necessary.
Documents (1) for A Practical Guide to Executing Trades on US-Singapore Recognized Venues
Latest
ISDA Paper on FRTB Rules in Brazil
On March 24, ISDA submitted a paper to Banco Central do Brazil’s (BCB) on its implementation of the revised market risk framework under the Fundamental Review of the Trading Book (FRTB), which represents an important step toward strengthening prudential standards...
IQ Interview with Mark Uyeda
Mandatory clearing of US Treasury securities is due to begin at the end of this year under rules finalized by the Securities and Exchange Commission (SEC) in 2023. SEC commissioner Mark Uyeda talks to IQ about the benefits of clearing...
Response to FCA on CFI Codes for Transparency
On March 19, ISDA responded to Chapter 3 of the UK Financial Conduct Authority’s (FCA) Quarterly Consultation CP26/8 on transparency requirements for financial instruments under Market Conduct Sourcebook (MAR) 11. Sections 3.11-3.13 of the consultation paper explain a discrepancy between...
Why We Need Safe and Efficient SFT Markets
Securities financing transactions (SFTs) play a vital role in fostering liquidity, mobilizing collateral and supporting the smooth functioning of derivatives markets. But during periods of stress, secured funding markets often come under pressure just when they’re needed most, with reduced...