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  3. Identifying Reportable Derivatives Contracts

Singapore: Is there an exemption for transactions with certain types of counterparties, e.g. central banks?

Derivatives contracts where a party to the contract is the Government of Singapore, a  statutory board, central bank, multilateral development agency, or international  organisation are exempted from reporting. The full list of such exempted persons can be  found in the Fourth Schedule to the SF(RDC)R. This exemption applies to derivatives  contracts where (i) the reporting entity is a party to the derivatives contract, and (ii) the  reporting entity executes the derivatives contract or causes the execution of the  derivatives contract as an agent of a party to the contract.  

Derivatives contracts entered into between a CMSL and a person who is not an accredited  or institutional investor are also exempted from reporting. 

References:  

  • Regulations 10 and 10A of the SF(RDC)R 
  • Fourth Schedule to the SF(RDC)R