MAS proposes central clearing for OTC derivatives
Plan will initially cover only Singapore dollar and US dollar interest rate swaps
Singapore
SINGAPORE plans to require central clearing for over-the-counter (OTC) derivatives, according to a public consultation by the Monetary Authority of Singapore (MAS).
The proposal will initially affect only Singapore dollar and US dollar interest rate swaps, although swaps denominated in the euro, pound sterling and Japanese yen are also under consideration.
