Statutory Instruments
2024 No. 1267
Financial Services
The Markets in Financial Instruments (Equivalence) (Singapore) Regulations 2024
Made
2nd December 2024
Laid before Parliament
3rd December 2024
Coming into force
31st December 2024
The Treasury make these Regulations in exercise of the powers conferred by Article 28(4) of of the European Parliament and Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) 600/2014 ( Regulation (EU) 648/2012 1 ).
Citation, commencement, extent and interpretation
1. —(1) These Regulations may be cited as the Markets in Financial Instruments (Equivalence) (Singapore) Regulations 2024.
(2) These Regulations come into force on 31st December 2024.
(3) These Regulations extend to England and Wales, Scotland and Northern Ireland.
(4) In these Regulations—
“ MiFIR ” means of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 600/2014 . Regulation (EU) 648/2012
Equivalence
2. The Treasury specify that the legal and supervisory framework of Singapore ensures that the trading venues authorised in Singapore and listed in the Schedule to these Regulations—
(a) comply with legally binding requirements which are equivalent to the requirements for the trading venues referred to in points (a), (b) and (c) of Article 28(1) of MiFIR resulting from that Regulation, United Kingdom law which was relied on by the United Kingdom before IP completion day to implement , and Directive 2014/65/EU ( Regulation (EU) No 596/2014 2 ); and
(b) are subject to effective supervision and enforcement in Singapore.
Anna Turley
Vicky Foxcroft
Two of the Lords Commissioners of His Majesty’s Treasury
2nd December 2024
Regulation 2
SCHEDULE Trading Venues
1. Abaxx Exchange Pte. Ltd;
2. Asia Pacific Exchange Pte. Ltd;
3. BGC Partners (Singapore) Ltd;
4. Bloomberg Tradebook Singapore Pte. Ltd;
5. Cleartrade Exchange Pte. Ltd;
6. Euronext Markets Singapore Pte. Ltd;
7. FMX Securities (Singapore) Pte. Limited;
8. GFI Group Pte. Ltd;
9. ICAP (Singapore) Pte. Ltd;
10. ICE Futures Singapore Pte. Ltd;
11. LMAX Pte. Ltd;
12. Nittan Capital Singapore Pte. Ltd;
13. SGX FX Markets Pte. Ltd;
14. Singapore Exchange Derivatives Trading Limited;
15. Synoption Pte. Ltd;
16. TFS Currencies Pte. Ltd;
17. Tradition Singapore Pte. Ltd;
18. Tullett Prebon (Singapore) Ltd.
EUR 600/2014, as amended by S.I. 2018/1403 ; there are other amendments, but none is relevant. See Article 2(16) of EUR 600/2014 for the definition of trading venue.
EUR 596/2014, as amended by S.I. 2019/310 ; there are other amendments, but none is relevant.