MAS warns on fragmented clearing and reporting

Asian financial markets have made progress in setting up CCPs and trade repositories, but greater harmonisation is needed across borders, Singaporean regulator warns


The installation of multiple central counterparties (CCPs) and trade repositories in Asia threatens to undermine the original aim of post-crisis over-the-counter derivatives reforms to deliver enhanced transparency and more effective risk management, the Monetary Authority of Singapore (MAS) has warned.

"We are seeing a proliferation of CCPs and trade repositories set up in Asia. While this will provide choice to Asian market participants, it may also increase risks and lead to higher costs

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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