UNITED STATES OF AMERICA 

Before the 

COMMODITY FUTURES TRADING COMMISSION 

In the Matter of the Exemption of Approved Exchanges 

and Locally-Incorporated Recognised Market Operators 

Authorized within Singapore from the 

Requirement to Register with the Commodity 

Futures Trading Commission as Swap Execution Facilities 

SECOND AMENDMENT TO APPENDIX A TO ORDER OF EXEMPTION 

On March 13, 2019, the Commodity Futures Trading Commission (“Commission”) 

issued an order of exemption (the “Order”) pursuant to Commodity Exchange Act (“CEA”) 

section 5h(g), with respect to approved exchanges (“AEs”) and recognized market operators 

(“RMOs”) authorized by the Monetary Authority of Singapore (“MAS”), granting each of the 

AEs and RMOs listed in Appendix A to the Order an exemption from the requirement to register 

with the Commission as a swap execution facility (“SEF”). 

CEA section 5h(g) authorizes the Commission to exempt, conditionally or 

unconditionally, a SEF from registration under CEA section 5h if the Commission finds that the 

facility is “subject to comparable, comprehensive supervision and regulation on a consolidated 

basis by ... the appropriate governmental authorities in the home country of the facility.” 

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The Commission determined in the Order that the MAS regulatory frameworks for AEs 

and RMOs, respectively, satisfy the standard set forth in CEA section 5h(g) for granting an 

exemption from the SEF registration requirement. 

Pursuant to this determination, the Order provided that MAS staff could request that the 

Commission amend the list of AEs and RMOs in Appendix A to the Order, to include additional 

AEs or RMOs that are authorized and in good standing in Singapore. 

On October 30, 2020, following a request by MAS staff, the Commission replaced 

Appendix A to the Order with an amended Appendix A (“Amended Appendix A”), which 

amended the list of AEs and RMOs exempted from SEF registration to include additional RMOs. 

In correspondence dated August 12, 2021 and August 22, 2022, MAS staff requested that 

the list of AEs and RMOs in Appendix A to the Order be amended to include the following 

additional RMOs, and represented that each such RMO is authorized and in good standing with 

MAS: 

Bloomberg Tradebook Singapore Pte Ltd 

SGX FX Markets Pte. Ltd. 

Synoption Pte. Ltd. 

NOW THEREFORE the Commission pursuant to the Order ORDERS that Amended 

Appendix A to the Order be deleted in its entirety and replaced with the Second Amended 

Appendix A attached hereto, which includes each of the additional RMOs identified above. 

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Except as expressly provided herein, the Order is unaffected and shall continue in full 

force and effect in accordance with its terms. 

Issued in Washington, DC on this 25th day of October, 2022. 

By the Commission, 

Christopher J. Kirkpatrick 

Secretary of the Commission 

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Second Amended Appendix A 

List of AEs and RMOs that are authorized and in good standing within Singapore that are 

subject to this Exemption Order 

Trading Venue Name and Category (i.e., AE or RMO) 

Asia Pacific Exchange Pte Ltd. (AE) 

BGC Partners (Singapore) Ltd. (RMO) 

Bloomberg Tradebook Singapore Pte Ltd (RMO) 

Cleartrade Exchange Pte Ltd. (RMO) 

Euronext Markets Singapore Pte Ltd (RMO) 

GFI Group Pte Ltd. (RMO) 

ICAP (Singapore) Pte Ltd. (RMO) 

ICE Futures Singapore Pte Ltd. (AE) 

Nittan Capital Singapore Pte Ltd. (RMO) 

Refinitiv Transaction Services Pte Ltd. (RMO) 

SGX FX Markets Pte. Ltd. (RMO) 

Singapore Exchange Derivatives Trading Limited (AE) 

Synoption Pte. Ltd. (RMO) 

TFS Currencies Pte Ltd. (RMO) 

Tradition Singapore (Pte) Ltd (RMO) 

Tullett Prebon (Singapore) Limited (RMO) 

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