Financial Services partner Nathaniel Lalone was quoted by on Singapore potentially becoming the first Asian country to receive swaps-trading equivalence in the EU. Nate noted the challenges Singapore faces, given they do not have the robust system to handle OTC derivatives-trading venues like in the US. He stated, "It would seem to be very difficult for a jurisdiction that has no derivatives trading venues to meet either of these standards as such venues, by definition, cannot be authorized, nor can they be demonstrated to be subject to effective supervision and enforcement." ("EU Close to Granting Swaps-Trading Equivalence to Singapore," May 29, 2018)