On Monday 1 April, the European Commission adopted an equivalence decision recognising a list of organised markets established in Singapore, operated by an approved stock exchange or recognised market operator, as eligible venues for the execution of derivatives subject to the venue’s trading obligation.
This decision follows the announcement of a “common approach” between the European Commission and the Monetary Authorities of Singapore (MAS) for the EU and Singapore financial derivatives trading venues last February (see EUROPE 12198/15).
The decision aims to ensure that EU counterparties can continue to trade the most liquid derivatives instruments on Singaporean venues, in accordance with the obligations set out in the EU Markets in Financial Instruments Regulation (MiFIR).
The Singapore Monetary Authority has adopted regulations to exempt EU multilateral and organised trading facilities from the requirements applicable to Singapore. (Original version in French by Marion Fontana)