Singapore to miss out on first wave of Mifid equivalence

New Esma guidance could still allow EU firms to trade Singapore stocks

SGX exchange: Singapore is not viewed as a priority case for Mifid II equivalence, says a regulatory source

Hong Kong, Australia and South Africa are on track to get European Union equivalence for share trading under the second Markets in Financial Instruments Directive (Mifid II) by the year-end, according to a senior official at the European Commission. However, the EC’s director of financial markets, Ugo Bassi, made no reference to Singapore, which some have interpreted as a sign the city-state might not be among the first wave of equivalence decisions.

“We have just received [guidance] from Esma