MAS benchmark proposals may reduce number of dealers in SGD market

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Proposed changes to the financial benchmark-setting framework by the Monetary Authority of Singapore (MAS) to hold banks more accountable by imposing criminal and civil penalties for market manipulation will result in some banks reconsidering their position in the Singapore dollar market, say local observers.

On June 14, MAS released a consultation paper for a new regulatory framework for the setting of financial benchmark interest and exchange rates following a year-long review into how various

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