WFE Response to MAS on proposed regulatory approach for derivatives contracts on payment tokens (crypto assets).

The WFE has responded to the Monetary Authority of Singapore’s (“MAS”) Consultation Paper on Proposed Regulatory Approach for Derivatives Contracts on Payment Tokens (crypto assets).

In its response, the WFE outlines the importance of the roles of both the exchange and CCP in the trading and clearing of derivatives contracts, bringing societal benefits as well as opportunities for individual market participants. It notes that established exchanges offer a venue whereby exchange-traded and centrally cleared derivatives are subject to pre- and post-trade standards, set by the exchange listing and the CCP clearing the trades.