News

MAS Consultation Paper: Capital Requirements For Brokers Trading Only In Commodity Futures Contracts 
Posted on Monday, August 27, 2007 - 08:00 PM

The regulation oversight of commodity futures will be transferred from International Enterprise Singapore [“IE”] to the Monetary Authority of Singapore [“MAS”] on 27 February 2008. Upon the transfer, brokers trading in commodity futures contracts will require a capital markets services licence and be regulated by MAS under the Securities and Futures Act [“SFA”].

2. MAS has reviewed the capital requirements for brokers trading only in Commodity futures contracts, to ensure the relevance of our capital requirements in the light of developments in the commodity futures markets.

3. The draft amendments to the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations to effect the proposed changes will be issued for consultation subsequently. MAS is proposing that the revised capital requirements take effect by February 2008.

4. MAS invites interested parties to submit their views and comments on the proposed capital requirements for brokers trading only in commodity futures contracts. Electronic submission is encouraged. Written comments may be submitted to:
Capital Markets Intermediaries Department
Monetary Authority of Singapore
10 Shenton Way
MAS Building
Singapore 079117
Fax: (65) 6225 1350
Email: cfutures_07@mas.gov.sg

MAS requests that all comments and feedback be submitted by 27 September 2007.

5. Please note that all submissions may be made public unless confidentiality is specifically requested for the whole or part of the submissions.