These guidelines explain how MAS regulates operators of clearing facilities pursuant to Part 3 of the Securities and Futures Act 2001 . In particular, guidance is provided on the following areas:

• Scope of MAS' regulatory ambit.
• Obligations of approved clearing houses and recognised clearing houses.
• How customers' monies and assets held by approved clearing houses are to be handled.
• How fees of approved clearing houses and recognised clearing houses are regulated.