Regulation 1
Citation and commencement
These Regulations are the Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 and come into operation on 2 April 2019.
/akn/sg/act/sub_leg/2001/SFA-S242-2019
Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 2001
- Sections
- 4
Quick answer
About this subsidiary legislation
Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S242-2019 2001, currently marked in force and first recorded in 2001.
Regulation 2
Purpose of Regulations
The purpose of these Regulations is —
(a)
to give effect to an arrangement between the Authority and the European Commission, under which —
(i)
the European Commission recognises that the requirements imposed by or under the Act on persons who operate organised markets in Singapore are comparable to the requirements imposed on persons who operate trading venues for derivatives contracts in the European Union under Directive 2014/65/EU of the European Parliament and of the Council of the European Union, Regulation No. 600/2014 of the European Parliament and of the Council of the European Union and Regulation No. 596/2014 of the European Parliament and of the Council of the European Union (called in this regulation the EU Rules); and
(ii)
the Authority recognises that the requirements imposed on persons who operate trading venues for derivatives contracts in the European Union under the EU Rules are comparable to the requirements imposed by or under the Act on persons who operate organised markets in Singapore; and
(b)
in particular —
(i)
to exempt persons who establish or operate trading venues for derivatives contracts in the European Union under and in accordance with the EU Rules from the requirement under section 7(1) of the Act to be an approved exchange or a recognised market operator before establishing or operating an organised market, or holding itself out as operating an organised market; and
(ii)
to prescribe trading venues for derivatives contracts in the European Union that are regulated under and in accordance with the EU Rules as facilities on or through which a specified person may execute a specified derivatives contract for the purposes of section 129J(1) of the Act.
Regulation 3
Exemption from section 7(1) of Act
Subregulation 1
Despite section 7(1) of the Act and subject to the condition mentioned in paragraph (2), a person may establish or operate an organised market that is a facility set out in the Schedule, or hold itself out as operating such an organised market, without complying with that section.
Subregulation 2
The condition mentioned in paragraph (1) is that the person ensures that no offer or invitation to exchange, sell or purchase any derivatives contract, securities, or unit in a collective investment scheme, is made on the organised market by or to a retail investor in Singapore.
Subregulation 3
The condition mentioned in paragraph (2) is deemed to have been satisfied if the business rules or listing rules of the organised market do not allow any offer or invitation to exchange, sell or purchase any derivatives contract, securities, or unit in a collective investment scheme, to be made on the organised market by or to a retail investor in Singapore.
Subregulation 4
In this regulation, “retail investor” means a person other than an accredited investor, an expert investor or an institutional investor.
Regulation 4
Prescribed facilities for purposes of section 129J(1)(a) of Act
The facilities set out in the Schedule are prescribed as facilities on or through which a specified person may execute a specified derivatives contract for the purposes of section 129J(1)(a) of the Act.
Common questions
- What is Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019?
- Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S242-2019 2001, currently marked in force and first recorded in 2001.
- Is Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 still in force?
- Yes — Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 is currently in force.
- When did Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 take effect?
- Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 was first recorded in 2001.
- How many regulations does Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 have?
- Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 contains 4 regulations.
- Where can I read the official version of Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019?
- The official text of Securities and Futures (Trading Venues for Derivatives Contracts in the European Union) Regulations 2019 is published at sso.agc.gov.sg.