Singapore: When is a derivatives contract considered to be traded in Singapore?

Generally, a derivatives contract is considered to be traded in Singapore if a contract is  executed by a trader who is employed in Singapore (Singapore Trader).

Examples of executing a contract could include the offering of quotes or making decisions  to enter into a contract. When several traders are involved in the execution of a contract,  the reporting entity should assess whether any trader is a Singapore Trader. As long as  one of the traders is a Singapore Trader, the reporting entity should treat the contract as  “traded in Singapore”. The Singapore Trader should also be able to address any queries  from MAS relating to details of the trade. 

The same principle applies regardless of the mode of execution, whether electronically or  otherwise. For instance, in the case of algorithmic trading or market-making on an  electronic platform, the reporting entity should assess whether a Singapore Trader is  responsible for the contract executed. 

Reference:  

• Regulation 2 of the SF(RDC)R