Authorised Benchmark Administrator (ABA), Designated Benchmark Administrator (DBS) and Authorised Benchmark Submitter (ABS)

Benchmark administrators and submitters of designated benchmarks are licensed by MAS as authorised benchmark administrators (ABA), designated benchmark administrators (DBS) and authorised benchmark submitters (ABS) under the Securities and Futures Act.

Who Needs to Apply

A company will need an ABA licence if it wishes to administer a designated benchmark, unless exempted. A company will need an ABS licence if it wishes to submit information to a designated benchmark, unless exempted. The definitions for the above regulated activities can be found in Part VIAA of the SFA .

Entities may also be designated as a DBS by MAS. 

Admission Criteria

When assessing an application for an ABA or ABS licence, MAS takes into account factors such as:
  • Track record, management expertise and financial soundness of the applicant.
  • Ability to meet the minimum financial requirements prescribed under the SFA.
  • Strength of risk management and accompanying internal controls and systems.
  • Business plans and projections.
  • Corporate governance, fitness and propriety.

Who Can Apply

An ABA or ABS licence is granted only to a corporation.

How to Apply

To apply for a licence, submit:

  • Form 7 - Application for Authorisation as an Authorised Benchmark Administrator
  • Form 9 - Application for Authorisation as an Authorised Benchmark Submitter

Paying the Application Fee

A non-refundable application fee of $4,000 is required. Please refer to payment instructions contained within the application form. 

Processing Time

It will take approximately 6 months to process and approve an application. As each application will be evaluated on a case-by-case basis, processing time depends on the circumstances of each application and the completeness of the information submitted.

Ensure that your application is complete, correct and accompanied by the requisite supporting documents.

Validity of the Licence

An ABA, ABS or DBS licence does not need to be renewed.

The licence is valid until it is revoked, suspended or withdrawn by MAS in accordance with section 123J or 123ZG of the SFA.