On 3 December 2024, the Markets in Financial Instruments (Equivalence) (Singapore) Regulations 2024

were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.

The Regulations set out HM Treasury’s determination that Singapore’s regulatory and supervisory regime for trading in derivatives is equivalent to the UK’s and allows UK counterparties to fulfil their Derivatives Trading Obligation when they trade derivatives instruments on trading venues in Singapore.

The Regulations will come into force at the same time as commencement regulations that will commence the revocation of the assimilated EU decision that they replace (Commission Implementing Decision (EU) 2019/541).