Singapore

Enforcement

Singapore Authorities Commence Joint Investigation Into Hyflux

By Editors | 02/06/2020

Water treatment firm Hyflux entered the limelight in 2018 when it tried to restructure nearly S$3bn in debt. The company is suspected of breaching disclosure and accounting rules.

Securities / Derivatives

SGX to Launch Single Stock Futures on 15 June

By Editors | 02/06/2020

SGX has observed greater synchronisation and correlation between the price of futures and the underlying stocks, indicating growing institutional participation across both markets.

AML / KYC

Singapore Police Arrest Suspect in Covid-19 Money Laundering Case

By Editors | 01/06/2020

An overseas distribution company was defrauded of more than $646,000 for the purchase of N95 masks and personal protection gowns from a supposed supplier in Singapore.

Market Infrastructure

How Singapore’s New Rate Will Change the S$3.5tr Derivatives Market

By FinanceAsia | 31/05/2020

With the first interest rate swap transaction referencing the new Singapore Overnight Rate Average, the island state hopes to stay ahead of regional peers.

Fintech / Regtech

Singapore to Develop Metrics to Assess Fairness of AI-driven Decisions

By Editors | 28/05/2020

UOB and Element AI will develop fairness metrics for credit risk scoring; HSBC, IAG Firemark Labs and Gradient Institute will develop fairness metrics for customer marketing.

Securities / Derivatives

CORRECTED – HKEX to Launch New Derivatives Products

By Editors | 27/05/2020

Subject to regulatory approval, 37 new futures and options contracts based on MSCI Asia and emerging markets indices will be launched in Hong Kong.

MAS Guidance for Safe Reopening of FIs’ Client-Facing Locations

By Editors | 20/05/2020

FIs will be allowed to reopen more customer service locations from 2 June. MAS will take action against FIs that fail to comply with safe management requirements.

Securities / Derivatives

LCH Launches Central Clearing for Derivatives Referencing SORA

By Manesh Samtani | 19/05/2020

The launch is heralded as a major milestone to deepen liquidity and catalyse the growth of the SORA market. StanChart was party to the first cleared derivatives trade referencing SORA.

Crypto / Digital Assets

MAS Sets Out Regulatory Approach for Payment Token Derivatives

By Editors | 18/05/2020

MAS will regulate payment token derivatives offered by approved exchanges – i.e. SGX Derivatives, APEX, Ice Futures – but will not regulate such products offered by other entities.