SGX proposes to drop clearing member minimum share capital from S$1bn to S$50m
First Asian exchange to offer client clearing looking to dramatically alter the terms to become an OTC client clearing member
Singapore Exchange (SGX) is proposing lowering its requirements for firms to become clearing members to provide client clearing services of over-the-counter derivative transactions.
The exchange has released a consultation paper that sets out the proposed rule amendments and two key changes to its clearing rules: a revision of criteria for clearing membership to allow for the clearing of customer OTC derivative transactions and the introduction of an enhanced customer collateral protection model
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