Showing 8 Q&A Sections for "recognised market operator"

  • Nature of organised markets
    • Singapore
      • How are markets and exchanges regulated in Singapore?
        Other markets may be regulated as RMOs (Recognised Market Operators). AEs are required to comply with a higher level of statutory obligations than that required of RMOs. Operating a market in Singapore is a licensable activity. A company will need an AE or RMO licence if it wishes to operate an organised market. A corporation that MAS considers to be "systemically-important" will be reuglated as an AE. Markets outside of this definition will be regulated as RMOs or exempted.
        FinReg
      • How does MAS determine whether a market operator is an Approved Exchange (AE) or an Recognised Market Operator (RMO)?
        In determining whether a market operator should be regulated as an approved exchange or a RMO, MAS will consider whether the market is systemically-important and other relevant circumstances, such as public interest. The factors which MAS considers are as follows: (a) the size and structure, or proposed size and structure, of the market operated by the corporation (b) the nature of the services provided, or to be provided, by the market to be operated by the corporation
        FinReg
      • What are some examples of AEs and RMOs?
        MAS provides useful examples of Approved Exchanges and Recognised Market Operators in their Guidelines on the Regulations of Markets. Approved Exchange: Description of the arrangement: A corporation seeks to operate a securities market in Singapore. The person provides proprietary trading terminals for licensed intermediaries to enter orders and effect transactions on the securities market.
        FinReg
  • Approved Exchange / Recognised Market Operator licence
    • Singapore
      • Application process for an AE/RMO licence
        Who Can Apply An AE or RMO licence is granted only to a corporation. How to Apply To apply for a licence, submit either Form 1A or Form 1B. Paying the Application Fee A non-refundable application fee of $4,000 is required. Please refer to payment instructions contained within the application form. Processing Time It will take approximately 9 months to process and approve a RMO application where the applicant meets all relevant admission criteria, has a straightforward business
        FinReg
      • How long is an AE/RMO licence valid for?
        Validity of the Licence An AE or RMO licence does not need to be renewed. The licence is valid until: The holder applies for cancellation of the licence. The licence is revoked by MAS in accordance with section 14 of the SFA.
        FinReg
      • Licensing exemption for market operators
        MAS may exempt certain corporations from the need to hold a licence as an AE or RMO. These market operators are known as Exempt Market Operators (EMO). Exempt market operators Pursuant to sections 14(1) and (2) of the SFA, MAS may approve an application to be an EMO from, or exempt, a corporation which wishes to establish or operate a market if, in the opinion of MAS, the regulatory objectives of MAS can be achieved without regulating that corporation as an approved
        FinReg
      • What are the admission criteria for an Approved Exchange/Recognised Market Operator licence?
        "When assessing an application for an AE or RMO licence, MAS takes into account factors such as: Market structure and operations in accordance to international standards and best practises. Track record, management expertise and financial soundness of the applicant. Ability to meet the minimum financial requirements prescribed under the SFA. Strength of risk management and accompanying internal controls and systems. Business plans and projec
        FinReg
  • Nature of Cryptocurrencies
    • Singapore
      • What are the common ways crypto assets are used in Singapore?
        Of more than 60 Recognised Market Operators currently regulated by MAS under the SFA, only three offer the trading of securities tokens, and with very small trading volumes. Recognised Market Operators are also not allowed to offer their products to retail investors.
        FinReg
  • Overview of Crypto trading
    • Singapore
      • Is DBS's digital exchange regulated?
        Yes, DBS DIGITAL EXCHANGE PTE. LTD. holds a Recognised Market Operator licence, which falls under the capital markets sector. "DBS, Southeast Asia's biggest bank, is to set up an exchange for digital assets, including cryptocurrencies, that will provide tokenisation, trading and custody services to institutional and accredited investors. The DBS Digital Exchange will use blockchain technology to provide a platform for fundraising through asse
        FinReg
  • Overview of Capital Markets Services in Singapore
    • Singapore
      • How are capital markets regulated?
        According to Ravi Menon's speech on Singapore's approach to the regulation of capital markets The purpose of regulating capital markets is to safeguard the interests of investors, ensure that risks are kept to an acceptable level, promote efficient price discovery, and maintain confidence in the market. In Singapore, the regulatory framework for capital markets is underpinned by the Securities and Futures Act (SFA) and the Financial Advisers Act (FAA). Consumers who invest in products or deal w
        FinReg
  • Regulations for crypto funds
    • Singapore
      • What are the circumstances where a crypto fund can be exempted from obtaining a license?
        If the cryptofund is set up as a Single Family Office. The MAS does not intend to license or regulate SFOs. If your cryptofund satisfies the exemption criteria under section 99(1)(h) of the Securities and Futures Act. from requirement to hold capital markets services licence 99.—(1) The following persons shall be exempted in respect of the following regulated activities from the requirement to hold a capi
        FinReg
  • Operating or listing on a crypto exchange
    • Singapore
  • Nature of Decentralised Finance (DeFi)