Singapore legislation
Regulation 2
of Securities and Futures (Clearing of Derivatives Contracts) Regulations 2018
Regulation 2
Definitions
In these Regulations —“aggregate outstanding notional amount”, in relation to a bank that holds a licence granted under section 7 or 79 of the Banking Act (Cap. 19), means the aggregate of the notional amounts of every derivatives contract —
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;“business day” means any day other than a Saturday, Sunday or public holiday;“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.
Definition
“aggregate outstanding notional amount”, in relation to a bank that holds a licence granted under section 7 or 79 of the Banking Act (Cap. 19), means the aggregate of the notional amounts of every derivatives contract —
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;
Definition
“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;
Definition
“business day” means any day other than a Saturday, Sunday or public holiday;
Definition
“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;
Definition
“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.