Central Banking

MAS and Esma ink cross-border CCP clearing deal

monetary-authority-singapore
Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) has inked a deal with the European Securities and Markets Authority (Esma) that paves the way for central counterparties (CCPs) in the country to clear derivatives for EU market participants while remaining subject to domestic regulation and supervision.

The memorandum of understanding (MoU) was announced by the two entities yesterday, but entered into force on February 10. It is established under the European Markets Infrastructure Regulation (Emir), a

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