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Australia strengthens its FX trading ties with Asia Pacific with MOU on trade repositories 

September 18, 2014
Andrew Saks Mc-Leod, LeapRate

Whilst American trade repositories seek recognition in Europe in order to serve London’s requirements post-EMIR, ASIC signs an MOU with the Monetary Authority of Singapore to allow bilateral use of trade repositories between the two nations, a clear hint toward Australia’s APAC aspirations.

The Australian Securities and Investments Commission (ASIC) and the Monetary Authority of Singapore (MAS) have entered into a Memorandum of Understanding (MOU) to allow trade repositories licensed in one jurisdiction to provide relevant data to the authority in the other jurisdiction, demonstrating Australia’s prominence as a both a trade partner of Asia Pacific nations with strong financial markets presence such as Singapore and Hong Kong, as well as the country’s pledge toward playing its part in establishing a global regulatory framework among the major FX industry participants.

Read more: LeapRate

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