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Singapore Exchange proposes changes to derivatives clearing fund

Singapore Exchange Ltd. has proposed amendments to its rules for the SGX-Derivatives Clearing Fund as part of efforts to refine the fund's structure and contribution requirements for clearing members.

SGX said March 13 that the proposal includes changes to its methodology so that clearing members' contribution requirements are determined directly by potential stress-test losses that the fund might suffer in case of a default, as well as combining exchange-traded derivatives and over-the-counter commodity derivatives into a single contract class for risk management purposes.

SGX said the amendments will make sure SGX-DC members have better capital efficiency and that their contributions to the combined contract class are managed in line with specific classes.

The exchange, which has invited public feedback to the rules until April 3, is planning to carry out the changes in the third quarter.