SINGAPORE: The Monetary Authority of Singapore (MAS) has issued a monograph of Supervision of Financial Market Infrastructures in Singapore on Monday.
In a statement, MAS said the monograph sets out its approach in supervising financial market infrastructures in Singapore to foster their safety and efficiency.
It also outlines MAS' adoption of the Principles for Financial Market Infrastructures, issued by the Committee on Payment and Settlement Systems and the International Organisation of Securities Commissions in April 2012.
The central bank added that the Principles for Financial Market Infrastructures contains new and more demanding international standards to ensure that the infrastructure supporting global financial markets is robust and able to withstand financial shocks.
Financial market infrastructure, including the MAS Electronic Payments Systems, The Central Depository Limited, Singapore Exchange Derivatives Clearing Limited and Singapore Mercantile Exchange Clearing Corporation are expected to comply with the new rules.
Financial market infrastructures that are not properly managed can pose significant risks to the financial system and be a potential source of contagion.
MAS said the latest monograph updates and replaces the 2004 monograph on MAS' Roles and Responsibilities in Relation to Securities Clearing and Settlement Systems in Singapore.
- CNA/xq
MAS issues monograph on financial market infrastructure supervision
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MAS issues monograph on financial market infrastructure supervision
