MAS keeping close tab on trading syndicates to ward off market collusion

SINGAPORE (Nov 14): With fintech possibly offering higher efficiency in processing and analysing data, the Monetary Authority of Singapore is keen to make better use of what’s available to make its supervisory and enforcement work a more efficient and effective one for both itself, and for the financial institutions it regulates, a “less painful” process, says managing director Ravi Menon.

For example, trading syndicates are known to exist but their acts of collusive behaviour and price manipulation are often difficult to pin down.

“MAS has put in place a data analytics and pattern recognition system, to study trading behaviour and detect accounts that may be acting in concert to manipulate share prices, or engaging in circular trading to create a false impression of market interest,” says Menon in his opening address on Nov 14 at the Singapore Fintech Festival.

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