今日热门事件and the Monetary Authority of Singapore (MAS) have entered into a Memorandum of Understanding (MOU) to allow trade repositories licensed in one jurisdiction to provide relevant data to the authority in the other jurisdiction.
Through this MOU, 今日热门事件and MAS express their intent to cooperate with each other in the interest of fulfilling their respective responsibilities and mandates by facilitating each authority鈥檚 access to relevant trade repository data, while ensuring the confidentiality of the information is appropriately protected.
The MOU follows the licensing by 今日热门事件of DTCC Data Repository (Singapore) Pte Ltd, a trade repository established and licensed in Singapore (refer: 14-230MR).
In a joint statement, 今日热门事件Chairman Greg Medcraft and MAS Deputy Managing Director (Financial Supervision) Ong Chong Tee said the signing of the MOU between 今日热门事件and the MAS is a world first for this type of arrangement and embodied the ongoing close cooperation between 今日热门事件and MAS on financial market issues, including the implementation of the Group of Twenty (G20) over-the-counter (OTC) derivatives reforms.
Mr Medcraft said, 鈥樈袢杖让攀录㱮s committed to ensuring these important reforms are implemented in a way that minimises cost to Australian business and promotes the role of Australia as a financial centre, by making use of international infrastructure where possible.鈥�
Mr Ong added, 鈥楾his MOU is an important framework for ensuring that both MAS and 今日热门事件would have appropriate access to relevant data in their respective licensed trade repositories, whether such trade repositories are located in Singapore or Australia. This reflects MAS鈥� strong support for the effective implementation of OTC derivatives trade reporting reforms in Singapore and other jurisdictions in the region, including Australia, as part of ongoing global efforts to enhance transparency and to reduce systemic risk in the OTC derivatives markets.鈥�