Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
Chapter 1 General Matters
Chapter 2 Access and Membership
Chapter 3 Conduct of Members, Approved Traders and Representatives
3. Conduct of Members, Approved Traders and Registered Representatives
3.3 Duties of Members Undertaking Agency Trades
3.3.10 Segregation of Customers' Monies and Assets and Fiduciary Obligations
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
Practice Notes
Schedules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(3 versions)
 

3.3.10 Segregation of Customers' Monies and Assets and Fiduciary Obligations

Subject to Rule 3.3.10(b)(ii), the following requirements apply in relation to a Member's fiduciary obligations to its Customers:

(a) a Member shall discharge its fiduciary obligations to its Customers by:
(i) segregating Customers' monies and assets;
(ii) depositing Customers' monies and assets in trust or custody accounts; and
(iii) separately accounting for the monies and assets of each Customer;
and
(b) a Member shall comply with the following segregation requirements:
(i) in the case of a General Trading Member that holds a licence to engage in a Regulated Activity and a Bank Trading Member, all segregation requirements under the Act and the Conduct of Business Regulations. Except as allowed under those Regulations, the Member is prohibited from depositing or co-mingling its own monies and assets with its Customers' monies and assets; and
(ii) in the case of a General Trading Member that holds a licence specified in Rule 2.4.1(b), such segregation requirements as prescribed by the Relevant Regulatory Authority. The General Trading Member shall immediately notify the Exchange on any changes to such requirements. Notwithstanding the foregoing, the Exchange shall have the discretion to prescribe additional requirements.

"Customer" as used in this Rule 3.3.10 in relation to a General Trading Member that holds a licence to engage in a Regulated Activity and a Bank Trading Member does not include: (a) a director, officer, employee, Approved Trader or Registered Representative of the Member; or (b) an Affiliate of the Member.

Amended on 1 April 2014 and 2 May 2016.