CME Clearing Obtains Recognised Clearing House Status in Singapore by MAS
- MAS approved CME Clearing as a recognised clearing house in Singapore.
Leading derivatives and futures exchange operator, CME Group, has just announced that the Monetary Authority of Singapore (MAS) has granted Recognised Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e (RCH) status for CME Clearing – a division of its Chicago Mercantile Exchange Inc. business.
CME Clearing will now be able to onboard clearing members in Singapore for exchange-traded futures and options as well as over-the-counter (OTC) derivatives, as its new RCH status is effective from May 18th 2016, as per the corporate announcement just released this Friday morning in Asia.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone , fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
The news follows after CME Europe revealed a new FX liquidity creation program earlier this week. CME Clearing becomes the second RCH authorized by MAS, after LCH.clearnet obtained the status earlier this year as reported by Finance Magnates in February.
We are delighted to be granted the status of Recognised Clearing House by the MAS.
Ability to onboard clearing members
"This is an important milestone in our growth strategy in Asia Pacific," said Christopher Fix, Managing Director, and Head of Asia Pacific, CME Group, commenting in a company statement regarding the news.
"Singapore is a key international financial centre, and we are excited to be able to play a crucial role working in close partnership with market participants and further support our member firms in meeting their clearing obligations."
Ahead of proposed mandate
The RCH status in Singapore will also help position CME Clearing for the expected mandate for Interest Rate Swaps (IRS) to be cleared later this year, based on MAS’ proposal being implemented, and will include the ability for local market participants to clear swaps that are denominated in either Singapore dollars (SGD) or United States dollars (USD).
Sunil Cutinho, Senior Managing Director and President of CME Clearing, added in the statement: "We are delighted to be granted the status of Recognised Clearing House by the MAS. This complements the Automated Trading Services (ATS) status granted to our clearing house by the SFC in Hong Kong in August 2015, and we are pleased to be able to provide our clients and members access to clearing services across multiple asset classes and jurisdictions."
Leading derivatives and futures exchange operator, CME Group, has just announced that the Monetary Authority of Singapore (MAS) has granted Recognised Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e (RCH) status for CME Clearing – a division of its Chicago Mercantile Exchange Inc. business.
CME Clearing will now be able to onboard clearing members in Singapore for exchange-traded futures and options as well as over-the-counter (OTC) derivatives, as its new RCH status is effective from May 18th 2016, as per the corporate announcement just released this Friday morning in Asia.
The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone , fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
The news follows after CME Europe revealed a new FX liquidity creation program earlier this week. CME Clearing becomes the second RCH authorized by MAS, after LCH.clearnet obtained the status earlier this year as reported by Finance Magnates in February.
We are delighted to be granted the status of Recognised Clearing House by the MAS.
Ability to onboard clearing members
"This is an important milestone in our growth strategy in Asia Pacific," said Christopher Fix, Managing Director, and Head of Asia Pacific, CME Group, commenting in a company statement regarding the news.
"Singapore is a key international financial centre, and we are excited to be able to play a crucial role working in close partnership with market participants and further support our member firms in meeting their clearing obligations."
Ahead of proposed mandate
The RCH status in Singapore will also help position CME Clearing for the expected mandate for Interest Rate Swaps (IRS) to be cleared later this year, based on MAS’ proposal being implemented, and will include the ability for local market participants to clear swaps that are denominated in either Singapore dollars (SGD) or United States dollars (USD).
Sunil Cutinho, Senior Managing Director and President of CME Clearing, added in the statement: "We are delighted to be granted the status of Recognised Clearing House by the MAS. This complements the Automated Trading Services (ATS) status granted to our clearing house by the SFC in Hong Kong in August 2015, and we are pleased to be able to provide our clients and members access to clearing services across multiple asset classes and jurisdictions."