Global Correspondence

GFMA Submits Comments to the MAS on a Consultation Paper Regarding Proposed Regulation of OTC Derivatives

The Global FX Division of the Global Financial Markets Association (GFMA) provides comments to the Monetary Authority of Singapore (MAS) on the MAS Consultation Paper on Proposed Regulations of over-the-counter (OTC) derivatives.  GFMA believes that many of the current legislative and regulatory reforms will have a significant impact upon the operation of the global FX market and feels it is vital that the potential consequences are fully understood and that new regulation improves efficiency and reduces risk, not vice versa.

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