Securities and Futures (Trading of Derivatives Contracts) Regulations 2019

which is not an exchange‑traded derivatives contract;

to which the bank is a party; (c)which is booked in Singapore; and

which is outstanding;“booked in Singapore”, in relation to a derivatives contract, means the entry of the derivatives contract on the balance sheet or the profit and loss accounts of a person where —

the person is a party to the derivatives contract;

the person’s place of business is in Singapore; and

the balance sheet or the profit and loss accounts relate to the person’s business in Singapore;“outstanding”, in relation to a derivatives contract, refers to a derivatives contract that —

has not expired; and

has not been terminated in accordance with the terms and conditions of the derivatives contract or by agreement between the parties to the derivatives contract;“place of business”, in relation to a party to a derivatives contract, means a head or main office, a branch, a representative office or any other office of the party.

any bank that holds a licence granted under section 7 or 79 of the Banking Act whose aggregate outstanding notional amount does not exceed $20,000,000,000 —

for the last day of the most recently completed quarter; and

for the last day of each of the 3 consecutive quarters immediately preceding that quarter; (b)any bank that holds a licence granted under section 7 or 79 of the Banking Act that has been carrying on business for less than one year;

any merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act;

any finance company licensed under the Finance Companies Act (Cap. 108);

any insurer licensed under the Insurance Act (Cap. 142);

any holder of a capital markets services licence.