Monetary Authority of Singapore Annual Report 2012/2013

A ROBUST FINANCIAL CENTRE

Monograph on Supervision of Financial Market Infrastructures in Singapore

In January 2013, MAS published the Monograph on Supervision of Financial Market Infrastructures in Singapore. This monograph describes MAS’ approach in supervising Financial Market Infrastructures2 (FMIs) in Singapore to foster their safety and efficiency. It updates and replaces the 2004 monograph on MAS’ Roles and Responsibilities in Relation to Securities Clearing and Settlement Systems in Singapore. This monograph also explains MAS’ application of the Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) Principles for FMIs (PFMI). The PFMI sets out international standards designed to ensure that the infrastructure supporting global financial markets is robust and well-placed to withstand financial shocks. It provides guidance on the identification, monitoring, mitigation and management of the full range of risks that arise in or are transmitted by FMIs.

2   FMIs refer to systemically important payment systems, central counterparties, securities settlement systems, central depositories and trade repositories.