Rulebooks: Contents

Rulebooks
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DVP Rules [Entire Rulebook has been deleted]
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Futures Trading Rules
Chapter 1 General Matters
Chapter 2 Access and Membership
2. Overview of Access and Membership
Chapter 3 Conduct of Members, Approved Traders and Representatives
Chapter 4 Listing and Trading of Contracts
Chapter 5 Physical Delivery
Chapter 6 Dispute Resolution and Arbitration
Chapter 7 Adverse Events, Rule Violations and Disciplinary Action
Chapter 8 Definitions and Interpretation
Chapter 9 Transitional Provisions
Regulatory Notices
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SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(2 versions)
 
Up to Apr 21 2019Apr 22 2019 onwards

2.5.6 Notification Requirements of General Trading Members

The following requirements apply in relation to material changes to Financial Resources or Adjusted Net Head Office Funds:

(a) a General Trading Member is required to immediately notify the Exchange in the event of any material changes to its Financial Resources or Adjusted Net Head Office Funds, as the case may be, including:
(i) an initial notification if its Financial Resources or Adjusted Net Head Office Funds, as the case may be, fall below 150% of its Total Risk Requirement;
(ii) a warning notification if its Financial Resources or Adjusted Net Head Office Funds, as the case may be, fall below 120% of its Total Risk Requirement;
(iii) if its Aggregate Indebtedness exceeds 600% of its Aggregate Resources; or
(iv) if its Financial Resources or Adjusted Net Head Office Funds, as the case may be, is reduced by more than 20% from the previously submitted monthly financial statement;
(b) if the Exchange is notified by a General Trading Member under this Rule 2.5.6 or otherwise becomes aware that a General Trading Member's Financial Resources or Adjusted Net Head Office Funds, as the case may be, has fallen or will fall below 120% of its Total Risk Requirement or such higher percentage as the Exchange may have imposed under Rule 2.5.4, the Exchange may direct that Member to comply with any or all of the requirements described under Regulation 7(3) of the Financial and Margin Regulations;
(c) if the Exchange is notified by a General Trading Member under this Rule 2.5.6 or otherwise becomes aware that a General Trading Member's Financial Resources or Adjusted Net Head Office Funds, as the case may be, has fallen or will fall below 150% of its Total Risk Requirement or such higher percentage as the Exchange may have imposed under Rule 2.5.4, the Exchange shall be entitled to require that Member to:
(i) submit its statements of assets and liabilities, Financial Resources, Total Risk Requirement, Aggregate Indebtedness, and such other statements as required by the Exchange at such interval and for such time frame as determined by the Exchange; and
(ii) operate its business in such manner and on such conditions as the Exchange may impose;
and
(d) if the Exchange is notified by a General Trading Member under this Rule 2.5.6 or otherwise becomes aware that a General Trading Member's Aggregate Indebtedness exceeds or will exceed 600% of its Aggregate Resources, or such lower percentage as the Exchange may have imposed under Rule 2.5.4, the Exchange may direct that Member to comply with any or all of the requirements described under Regulation 17(2) of the Financial and Margin Regulations.

Amended on 25 August 2009 and 22 April 2019.