Rulebooks: Contents

Rulebooks
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CDP Clearing Rules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
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Futures Trading Rules
Chapter 1 General Matters
Chapter 2 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
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SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(1 version)
 
May 16 2011 onwards

7.2.1A Composition by the Exchange.

(a) The Exchange may make an offer of composition to a Member, Approved Trader or Registered Representative who has committed a Rule Violation. The terms of the offer of composition include payment of a specified sum to the Exchange and may include the fulfillment of any accompanying terms that the Exchange may prescribe.
(b) Upon payment of the specified sum and fulfillment of the accompanying terms by the Member, Approved Trader or Registered Representative within the stipulated time, no further proceedings shall be taken against that Member, Approved Trader or Registered Representative for that Rule Violation.
(c) Acceptance of the offer of composition by the Member, Approved Trader or Registered Representative amounts to an admission of liability, and the Member, Approved Trader or Registered Representative will be deemed to have committed the conduct described in the charge.
(d) In respect of Rule Violations which the Exchange may offer composition, guidelines on the range of composition which the Exchange may offer to a Member, Approved Trader or Registered Representative who has committed a Rule Violation are indicated in Schedule A.
(e) The Exchange retains the discretion to offer composition to a Member, Approved Trader or Registered Representative of an amount which is lower or higher than the guidelines, except that the amount of composition that the Exchange may offer shall not exceed S$10,000 for each Rule Violation.
(f) Notwithstanding that a Rule Violation is indicated as being compoundable or may be compoundable under Schedule A, the Exchange retains the discretion not to make an offer of composition to the Member, Approved Trader or Registered Representative and instead, to charge the said Member, Approved Trader or Registered Representative before the Disciplinary Committee.
(g) If the Exchange has made an offer of composition, it will not commence disciplinary proceedings against a Member, Approved Trader or Registered Representative until after the stipulated period for the offer lapses.

For the purposes of determining whether a Rule Violation is classified as a first, second, third or subsequent offence under Schedule A, only previous violations under the same Rule will be taken into consideration.

Added on 16 May 2011.