Sgx-st rules on married deals

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Each order entered into the Trading System must specify the Position Account code, the Trading Account code and the price and quantity of the security or f utures c ontract. Amended on 3 April , 1 July and 8 October Amended on 3 April All securities that are designated by CDP as eligible for clearing will be traded on an "ex" basis for two Market Days before and up to the books closure date for an entitlement.

Amended on 3 April and 10 December A buyer seller of securities on a "cum" "ex" basis who has not received that entitlement may claim the entitlement from the seller buyer. For avoidance of doubt, a contract is not cancelled if: Amended on 3 April and 15 September The following procedures apply:. Notwithstanding Rules 8.

SGX-ST will not review an error trade referred to it by a Trading Member, where the error trade falls at or within the upper and lower limits of a no-cancellation range applied pursuant to Rule 8. Amended on 24 February Subject to Rule 8. Deleted on 24 February Notwithstanding Rule 8. SGX-ST may consider the following factors when deciding whether to cancel an error trade under Rules 8. Amended on 24 February and 8 October Error trades in structured warrants that are referred to SGX-ST will be reviewed in accordance with the following Rules: Error trades in all other securities or f utures c ontracts, excluding bonds, will be reviewed in accordance with the following Rules:.

Added on 24 February and amended 8 October Upon receipt of a request to review an error trade in bonds, SGX-ST will consider the validity of the error trade. SGX-ST may, in its discretion, make a determination that the error trade is to be cancelled, having regard to the factors in Rule 8. SGX-ST will not consider any request to review its decision following the notifications under Rule 8.

Amended on 3 April , 23 January and 8 October Direct Business must be reported through the married trade reporting system of the Trading System under Rule 8. The price, quantity , counterparty , and other details as required under Rule 8A. Amended on 3 April and 11 March Direct Business must be reported within 10 minutes of execution save that Direct Business executed after market close must be reported in the first 20 minutes of the Opening Routine on the following Market Day.

Amended on 7 June and 13 November Amended on 8 October The Board may declare publicly a listed or quoted security or f utures c ontract to be a "Designated Instrument " if, in its opinion, there has been manipulation of the security or f utures c ontract or its underlying , excessive speculation in the security or f utures c ontract or its underlying , or it is otherwise desirable in the interests of organised markets established or operated by SGX-ST.

The Board may impose any conditions it thinks fit on dealing or trading in a Designated Instrument. A condition applies from the date of declaration to all contracts of the Designated Instrument entered into on or after the date of declaration, or as indicated by the Board.

For avoidance of doubt, the conditions may include: The Trading Member must do so by the next business day after being asked or as required. The Board may impose any conditions it thinks fit on existing ready market or f utures c ontracts on a cornered security or on dealing in a cornered security.

If the Board imposes a condition that contracts are to be cash settled, it must establish a Settlement Committee to advise on the fair settlement price. The quorum of the Settlement Committee is all members when the meeting proceeds to business, but the Settlement Committee may complete the business with any 3 present.

A Settlement Committee may hear evidence as it thinks proper and relevant to the discharge of its functions. A Settlement Committee must report its findings to the Board. The findings are advisory only. The Board will accept the Settlement Committee's recommendation on the fair settlement price, unless it has good reasons to reject it. The Board may refer a matter to the Settlement Committee for further consideration, before deciding on the fair settlement price. The fair settlement price determined by the Board is final and binding on all parties to any outstanding ready market or f utures c ontract on the cornered security.

SGX-ST may suspend or restrict trading in any or all listed or quoted securities or f utures c ontracts. Trading Member to ensure that persons carrying out or enforcing procedures and systems reasonably discharge their duties and obligations. Trading Member to have automated pre-execution checks on orders and appropriate internal controls. Trading Member to have automated processes to monitor capital requirements and prudential limits.

Trading Member not to hold itself out as an active TM during period of cessation of business. Trading Member to assess its business and operational risks and maintain adequate business continuity arrangements. Trading Member to document its business continuity arrangements in a business continuity plan. Trading Member to demonstrate awareness of risks, mitigating measures and state of readiness by way of attestation to the Board of Directors.

Trading Member to appoint emergency contact persons and furnish the contact information to the Exchange. Obligations of a Designated Market-Maker. DMM to publish on the Trading System competitive bid and offer quotations in the prescribed manner. Suspension or Restriction of Trades in Specified Security.

Disiplinary Proceedings. DMM and market-making representative to comply with disciplinary decisions. Obligations of a Trading Representative. Trading Representative to adhere to principles of good business practice. Trading Representative to maintain a register of securities in accordance with SFA. Trading Representative to give SGX-ST necessary notice before engaging in or holding substantial shareholdings in any other business that might potentially conflict with being a Trading Representative.

Trading Representative to ensure that his Trading Member agrees to the engagement or shareholding. Engagement or shareholding not to breach the law, Rules, Directives or any regulations. Trading Representative to supply SGX-ST with information required regarding the engagement or acquisition of shareholding. Securities and f utures c ontracts to be traded through the Trading System or as otherwise permitted in this Rules.

Chapter 4 — Trading Members

Trading Member to specify the Position Account code, Trading Account code and the price and quantity of the security or f utures c ontract for each order entered into the Trading System. Trading Member who made the error to contact counterparty Trading Member immediately to seek agreement to cancel an error trade. Both Trading Members to take necessary action to minimise any potentail market impact caused by the error trade.

Designated Instruments. Compliance with any conditions imposed by the Board on dealing s or trades in a Designated Instrument. Trading Member to provide SGX-ST with the particulars of all its dealings or trades in Designated Instruments and its customers involved within the stipulated timeline.

Compliance with any conditions imposed by the Board on dealing in a cornered security, or a f utures c ontract on a cornered security. Trading Member not to execute transactions in a security or f utures c ontract subject to a trading halt without SGX-ST's approval.

Trading Member or Trading Representative not to report Direct Business through the married trade reporting system in the Trading System if a customer has not indicated whether the Direct Business sell order is a Short Sell Order or a normal sell order.

Sgx-st rules on married deals

Trading Member to ensure that the necessary procedures and systems are implemented to facilitate compliance with the obligations set out in Rule 8A. Trading Member to ensure that report submitted adheres to the requirements set out by SGX-ST and is complete and accurate. Trading Member must make payment of sale proceeds to the selling customer within prescribed timelines.

Trading Member, if informed by CDP or its Clearing Member that a right to receive securities pursuant to an Exchange Trade is to be replaced with a right to receive a monetary sum "Cash Settlement Amount" pursuant to the Clearing Rules, to immediately inform the relevant buying customer. Subject to Rules 9. Trading Member not to engage in imprudent credit practices when exercising discretion with regards to deferment of force-sale. Access to Foreign Markets. Core Trading Principles. Trading Member and Trading Representative not to enter bids or offers in Selected Foreign Securities on a Foreign Market via the Exchange Link that may result in a disorderly market in those securities.

Trading Member and Trading Representative not to Intentionally or deliberately taking advantage of any situation resulting from a breakdown, error or malfunction of systems or procedures of Exchange Link. Market Manipulation and False Market. Trading Member and Trading Representative not to engage in an act that will create a false or misleading appearance of active trading in any Selected Foreign Securities or lead to a false market on a Foreign Market. Trading Member not to participate or knowingly assist in manipulating the market. Trading Member and Trading Representative not to trade or make a market in a suspended Selected Foreign Security without agreement by the Foreign Exchange concerned.

Trading Member to meet costs incurred in connection with the cancellation of contracts. Trading Member to comply with conditions on dealing imposed in a Foreign Market in relation to securities which have been subject to manipulation or excessive speculation. Chapter 11 — Capital and Financial Requirements. Trading Member not to cause or permit its base capital or net head office funds to fall below the base capital requirement.

Trading Member to notify SGX-ST in the case of failure to comply or awareness of impending failure to comply with the base capital requirement. Trading Member to comply with SGX-ST's requirements when base capital or net head office funds fall below the base capital requirement. Trading Member not to cause or permit its net liquid capital to fall below the net liquid capital requirement. Trading Member to notify SGX-ST in the case of failure to comply or awareness of impending failure to comply with the net liquid requirement.

Trading Member to comply with SGX-ST's requirements when net liquid capital falls below the net liquid capital requirement. Trading Member not to cause or permit its financial resources or adjusted net head office funds to fall below its total risk requirement. Trading Member to notify SGX-ST in the case of failure to comply or awareness of impending failure to comply with the financial resources requirement.

Trading Member to comply with SGX-ST's requirements when the financial resources of adjusted net head office funds fall below the total risk requirement. Trading Member to notify SGX-ST of failure to comply or awareness of impending failure to comply with the aggregate indebtedness requirement. Other Requirements for Exposure to Single Customer. Trading Member to have in place adequate tools and procedures to monitor exposure to a single customer. Trading Member to comply with risk management requirements imposed by SGX-ST to reduce risk exposure to a single security.

Trading Member not to permit exposure to a suspended security quoted on SGX-ST or recognised group A securities exchange above the stipulated limit. Other Requirements for Exposure to Single Security. Trading Member to have in place adequate tools and procedures to monitor exposure to a single security. Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority.

Trading Member not to cause or permit a new transaction in the customer's margin account when equity limit stipulated is not met. Trading Member not to cause or permit the equity in a customer's margin account to fall to or below the stipulated limit, and had not required the customer to provide additional margin. Trading Member not to cause or permit the the aggregate of the margin exposures of all customers to exceed the stipulated limit.

Trading Member not to cause or permit the aggregate of the margin exposures of all customers in respect of Specified Products , other than Specified Products quoted on SGX-ST, to exceed the stipulated limit. Trading Member not to cause or permit the debit balance in each customer's margin account to exceed the stipulated limit. Trading Member not to redeem any redeemable preference shares when the necessary conditions are not met.

Trading Member to obtain prior approval of SGX-ST if it enters a subordinated loan agreement in a format other than prescribed format. Trading Member not to repay any subordinated loan principal before the maturity date without prior approval of SGX-ST. Trading Member not to repay any subordinated loan principal that has matured when the stipulated conditions are not met. Trading Member not to make any unsecured loan or advance, payment of dividend or increase in director's remuneration when conditions are not met.

Trading Member, Director or Trading Representative to maintain complete and accurate records in accordance with the Rules. Trading Member, Director or Trading Representative not to make false or misleading entries. Trading Member, Director or Trading Representative to ensure integrity, security and confidentiality in the transmission and storage of records.

Trading Member and Trading Representative to maintain confidentiality of customer's information. Failure to ensure that a person to whom customer's information is disclosed maintains confidentiality. Trading Member to obtain the necessary particulars before opening an individual customer account. Trading Member to verify customer's identity and intention when account is not opened in person. Trading Member to obtain the necessary particulars before opening a corporate customer account.

Trading Member to obtain a certified true copy of the certificate of incorporation of the customer before opening a corporate customer account. Trading Member to obtain the necessary documents before opening a corporate customer account. Trading Member to allow customers to open a joint account only if the specified conditions are met.

Trading Member to maintain the necessary information for the operation of a joint account. Trading Member to maintain separate Trading Accounts for each customer or each group of joint customers as the case may be whose account is carried on the books of the Trading Member. Trading Member to identify and designate each Trading Account by the full name of the customer s whose account is carried on the books of the Trading Member and by a unique Trading Account code, which must be reported to SGX-ST prior to any order. Trading Member to obtain written authorisation from the customer before accepting orders from a third party.

Chapter 13 Trading Halt, Suspension and Delisting

Trading Member to send customer a contract note for purchase and sale of securities or futures contracts. Trading Member to obtain customer's consent before issuing contract notes in electronic form.

Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority in respect of contract notes. Trading Member to send customer a statement of account on a regular basis, as may be required under the Securities and Futures Act, or any Regulation made thereunder. Trading Member to include information in the statement of account in accordance with SFR.

Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority in respect of statements of account. Trading Member not to allow a third party to collect cash or stipulated documents without written authorisation. Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority in respect of stipulated fiduciary obligations. Trading Member to comply with the stipulated provisions in the Securities and Futures Licensing and Conduct of Business Regulations Trading Member to deposit all money received on account of a Remisier in a trust account.

Trading Member to designate the accounts maintained with a financial institution as a trust account, or customer or Remisier account, as the case may be. Trading Member not to withdraw Remisier's money from a trust account when the prescribed conditions are not met. Trading Member to designate accounts maintained with a financial institution as a trust account, customer, or Remisier account. Trading Member to deposit assets of its customers in a separate custody account from Remisiers. Trading Member not to commingle assets of a customer or Remisier, with Trading Member's own assets.

Trading Member not to withdraw remisier's assets from a custody account when the prescribed conditions are not met. Trading Member to notify the Remisier of the withdrawal of assets by the next business day.

Trading Member to make trades of securities or futures contracts for the Trading Member's proprietary account under a separate stock account. Trading Member to require a Director, Officer, Dealer and employee to obtain prior written approval for each trade. Trading Representative not to execute an order for the stipulated accounts without proper written authorisation. Trading Member not to buy or sell securities or futures contracts for Director, Officer, Trading Representative, employees of another Trading Member without prior written approval of that Trading Member. Trading Member to put in place procedures to ensure that agents who are privy to confidential information do not use the information to trade for their own benefit.

Trading Member to put in place procedures to monitor trading activities of Director, Officer, Trading Representative, employees. Trading Member to carry out checks to ensure compliance with all regulatory requirements. Broker-linked balances.

Trading Member linked to a broker-linked balance to have a written agreement with the holder of the broker-linked balance, setting out the required matters. Trading Member to act in accordance with the written agreement, the Rules and the Act. Subject to Rule Trading Member that does not approve a customer's request for release of any securities must a inform the customer that the request has been rejected and the securities will not be released; b provide the reason s for not releasing the securities, including necessary details, if so requested by the customer; and c provide the customer with such information as may be prescribed from time to time, within the relevant prescribed timelines.

Resigning Trading Member must, in respect of each customer that has a broker-linked balance linked to it, release all securities in the broker-linked balance into the customer's main balance by the effective date of resignation. Trading Member to ensure that advertising or publicity adheres to the stipulated requirements. Trading Member and Trading Representatives not to receive goods and services from a broker when the stipulated criteria are not met.

Trading Member not to pay for goods and services to customers when the stipulated criteria are not met. Trading Member not to allow unauthorised persons to use the Trading Member's office premises. Authorized Trading Member to comply with requirements in Rule 5A. Position Accounts carrying positions for more than one beneficial owner.

TPC Trading Member to instruct its Clearing Member to allocate positions of each trade cleared by the Clearing Member to the Trading Member's Position Account or in accordance with the relevant customer's instructions, as soon as practicable. Holding trades for different customers in a Position Account and warehousing of trades.

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