Monetary Authority of Singapore’s Strategic Priorities

Monetary Authority of Singapore (MAS) plans to use Asia’s current growth momentum to encourage more investment from both international and local financial institutions/corporations. A wider array of Islamic financial services and products will be offered to expand investment flows between Asia and the Middle East. MAS has three strategic priorities for 2006:

• Strengthen Singapore’s position as a leading financial center in Asia, including the development of financial sector research;
Involve the finance industry in early stages of policy formation to help maintain excellence in risk recognition (this includes receiving feedback on MAS performance; and
• Continuing to build relations with both foreign and domestic finance industries -- showcasing Asian markets to the international community.

Details of the strategic priorities are provided at the link below.

Amendments to the Securities and Futures Act

MAS tries to ensure its regulatory framework is responsive to capital market developments through amendments to the Securities and Futures Act (SFA). Amendments for 2006 include sections on Financial and Margin Requirement for Holders of Capital Market Services Licenses, Clearing Facilities, Market Conduct, and Shares and Debentures.

Singapore Government Securities Initiatives

To further price transparency and liquidity in the growing Singapore Government Securities (SGS) market, Singapore government securities dealers launched the E-Bond Platform in May 2006, allowing price providers to enter firm bids and offers on a screen-based trading system. It compliments the Request-for-Quote (RFQ) module that was successfully launched in July 2005.

Singapore Exchange Initiatives

The Singapore Exchange (SGX) supports ASEAN market integration, and aims to be Asia’s risk management center by maintaining a regulatory infrastructure responsive to the market environment, aligning market practices to international best practices, and expanding its operations to the commodities market.