SGX proposes to drop clearing member minimum share capital from S$1bn to S$50m

First Asian exchange to offer client clearing looking to dramatically alter the terms to become an OTC client clearing member

SGX Centre 2

Singapore Exchange (SGX) is proposing lowering its requirements for firms to become clearing members to provide client clearing services of over-the-counter derivative transactions.

The exchange has released a consultation paper that sets out the proposed rule amendments and two key changes to its clearing rules: a revision of criteria for clearing membership to allow for the clearing of customer OTC derivative transactions and the introduction of an enhanced customer collateral protection model

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