SINGAPORE CONTENTS
6. Marketplaces, Exchanges and Trading Platforms p.760 6.1 Permissible Trading Platforms p.760 6.2 Regulation of Different Asset Classes p.761 6.3 Impact of the Emergence of Cryptocurrency Exchanges p.761 6.4 Listing Standards p.762 6.5 Order Handling Rules p.762 6.6 Rise of Peer-to-Peer Trading Platforms p.763 6.7 Rules of Payment for Order Flow p.763 6.8 Market Integrity Principles p.764 7. High-Frequency and Algorithmic Trading p.764 7.1 Creation and Usage Regulations p.764 7.2 Requirement to Be Licensed or Otherwise Register as Market Makers When Functioning in a Principal Capacity p.765 7.3 Regulatory Distinction Between Funds and Dealers p.765 7.4 Regulation of Programmers and Programming p.765 8. Insurtech p.766 8.1 Underwriting Processes p.766 8.2 Treatment of Different Types of Insurance p.766 9. Regtech p.767 9.1 Regulation of Regtech Providers p.767 9.2 Contractual Terms to Assure Performance and Accuracy p.767 10. Blockchain p.767 10.1 Use of Blockchain in the Financial Services Industry p.767 10.2 Local Regulators’ Approach to Blockchain p.768 10.3 Classification of Blockchain Assets p.768
10.4 Regulation of “Issuers” of Blockchain Assets p.768 10.5 Regulation of Blockchain Asset Trading Platforms p.769 10.6 Staking p.769
10.7 Crypto-Related Lending p.769 10.8 Cryptocurrency Derivatives p.769 10.9 Decentralised Finance (DeFi) p.769 10.10 Regulation of Funds p.769 10.11 Virtual Currencies p.770 10.12 Non-Fungible Tokens (NFTs) p.770 11. Open Banking p.770 11.1 Regulation of Open Banking p.770 11.2 Concerns Raised by Open Banking p.770 12. Fraud p.771 12.1 Elements of Fraud p.771
12.2 Areas of Regulatory Focus p.771 12.3 Responsibility for Losses p.771
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