Speaking at ISDA's annual general meeting in Singapore, Ng Nam Sin of the Monetary Authority of Singapore said global regulators should focus on harmonizing rules governing trading, reporting and clearing of swaps. "The cross-border treatment has been frustrating, and there should be greater focus on similar outcomes from global regulators," he said. "There needs to be closer international coordination as new rules are implemented. The role of industry associations as a voice to drive greater coordination is more important than ever."

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