MAS and SGX response to market structure consultation. The Monetary Authority of Singapore and Singapore Exchange issued their response to the joint consultation paper on the Review of the Securities Market Structure and Practices. MAS and SGX will proceed with the five proposals concerning minimum trading price, collateral requirements, short position reporting, transparency of trading restrictions and reinforcing the listings and enforcement framework. (8/1/2014) MAS press release.
Hong Kong focuses on dark pools. Reuters reported the Hong Kong Securities and Futures Commission has warned that it is closely examining dark pools. (8/1/2014) Dark pools.
Singapore proposes financial benchmark rules. The Monetary Authority of Singapore published a consultation paper on legislation to introduce a regulatory framework for financial benchmarks. The proposal would impose criminal and civil sanctions for the manipulation of any financial benchmark in Singapore. In addition, administrators and submitters of financial benchmarks designated by MAS will be subject to regulation, including licensing requirements. Comments should be submitted by August 29, 2014. (7/29/2014) MAS press release.
ASIC proposes changes to OTC derivatives reporting. The Australian Securities and Investments Commission requested comment on proposed revisions to the rules that require the mandatory trade reporting of over-the-counter derivatives such as interest rate swaps. Comments should be submitted by August 29, 2014. (7/25/2014) ASIC press release.