SORA benchmark gets teeth against financial misconduct

Singapore

THE Monetary Authority of Singapore (MAS) will prescribe the Singapore Overnight Rate Average (SORA) as a financial benchmark under the Securities and Futures Act (SFA), as well as enhance its transparency and data availability, as part of a slew of measures to support the adoption of the MAS-administered SORA.

These initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark's integrity and enhance market confidence in SORA, given its growing importance as a key interest rate benchmark in Singapore dollar (SGD) financial markets, said MAS in a statement on Wednesday.