The (MAS) and the (CSRC) announced today that they have outlined a number of ways in which they plan to enhance the cooperation and financial connection between the capital markets of both countries.
The measures are the result of the third Supervisory Roundtable between the two regulators, which was held on October 24, 2018. One of the key highlights to come out of the meeting includes an agreement on a cross-border derivatives cooperation.
Building upon discussions from last year’s meeting, the two financial regulators have agreed on the substantive areas for cooperation in supervising exchange-traded derivatives. According to the statement, the agreement will be formalised as a (MoU) in the near future.
This agreement will also see an enhanced cooperation and supervision of the futures markets in both countries. The aim of this is to facilitate the stable development of the futures markets in both Singapore and China.
Source: Monetary Authority of Singapore
“The derivatives MOU will lead to more effective cross-border regulatory oversight of futures markets, while the staff exchange arrangement will deepen ties between staff at both agencies.”
MAS and CSRC sign MoU to allow staff exchanges
As a result from the Roundtable, MAS and also signed a Staff Exchange MoU. This agreement will facilitate staff exchanges between the two regulators. The aim of this it to deepen the working relationship between the two watchdogs as well as help build a mutual understanding.
According to the statement, MAS and CSRC also discussed enhancing the cross-border supervision of each other’s capital markets, the application of data analytics and the role of capital markets supporting the Belt and Road Initiative.
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