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Singapore Exchange to amend capital requirements for bank, remote members

Singapore Exchange Ltd. proposed changes to the financial and capital requirements of remote clearing, remote trading, bank clearing and bank trading members.

This follows global regulatory developments and aims at reflecting risk levels posed by members, the bourse said in a July 5 release. It would affect the clearing rules of SGX-Derivatives Clearing and the central depository, trading rules of SGX-Securities Trading and futures trading regulations.

The amendments include the removal of SGX-imposed risk-based capital requirements on bank members and remote members, and reliance on the respective home regulator's financial and capital requirements.

The exchange also plans to redefine base capital for bank and remote members, and remove net liquid capital requirements for remote trading members.

These changes are open for public feedback until July 27 and set to take effect in the fourth quarter.