The Quebec Securities Commission and the Monetary Authority of Singapore have signed a Memorandum of Understanding regarding the exchange of information.

The MOU will facilitate the exchange of information and mutual assistance between the two financial market regulatory authorities, particularly in the supervision and oversight of securities markets and investigations. The MOU was signed by Carmen Crépin, chair of the CVMQ and by Yeo Lian Sim, deputy managing director of the MAS. “The increasingly international nature of operations, the creation of new alliances, as well as our mission to protect investors and support financial markets, have lead us to conclude this cooperation agreement,” says Crepin.

“The signing of this MOU provides the basis for co-operation between the CVMQ and the MAS,” says Yeo.

The MOU is thought to be necessary since the Bourse de Montreal Inc. and the Singapore Exchange are both members of the Globex Alliance. Globex is a world-wide network of derivatives markets on which negotiations are processed electronically. Its members include the Chicago Mercantile Exchange, ParisBourse SBFSA, the Singapore Exchange Derivatives Trading, Brazil’s Bolsa de Mercadorias & Futuros, Spain’s MEFF and the Bourse de Montréal Inc. As part of Globex, each exchange has direct access to all
products offered in the six alliance markets, so an increase in cross-border transactions is expected in the future.