EU Authorizes Singapore Venues To Serve Euro Trades
Law360, London (April 2, 2019, 12:45 PM BST) -- Some trading venues based in Singapore are able to serve European Union derivatives trades because they comply with regulations in the bloc, the European Commission has said, in a move it hopes will strengthen ties between the two jurisdictions' financial sectors.
The commission said on Monday it recognizes that some Singaporean trading venues, which are authorized by the Monetary Authorities of Singapore, are complying with EU trading obligations for derivatives. It means European investment banks can continue trading interest rate derivatives and credit default swaps on the overseas venues.
“Our equivalence decision today confirms how global cooperation can bring tangible benefits to EU market participants...
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