Wednesday, February 23, 2011
Singapore Exchange shakes up clearing rules
Reuters, 23 Feb 2011Feb 23 (Reuters) - Singapore Exchange said it will change the funding structure for securities firms using its clearing service so the amount of money they pay is more closely aligned with their risk exposure.Firms using the exchange's clearing services have to pay money into a central fund, which will be used to cover losses in the event that one of them defaults on a trade.