MAS plans fund settlement utility in Singapore

Singapore on the mapSingapore’s financial regulator, the Monetary Authority of Singapore (MAS), intends to develop a centralised settlement utility for funds as part of a digital transformation plan. The Financial Services Industry Transformation Map (ITM) 2025 is designed to promote Singapore as a financial hub in the region. Part of this plan involves digitalising the financial infrastructure. This includes the development of an industry funds settlement utility “to centralise subscription, redemption, record-keeping workflows, and facilitate reconciliation of fund data flows, thereby reducing settlement time and improving efficiency”. Plans for the asset management sector also include the enhancement of the “variable capital company regime and other fund structures to cater to broader industry needs”. © 2022 funds global asia

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