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
SGX-DC Clearing Rules
Chapter 1 Application of Rules
Chapter 2 Clearing Membership
Chapter 3 Committees
Chapter 4 Enforcement of Rules
Chapter 5 Arbitration
Chapter 6 Delivery and Related Matters
Chapter 7 Clearing and Margins
Chapter 7A Suspension and Default
Chapter 7B Payments
Chapter 8 Mutual Offset System
Chapter 9 Definitions and Interpretation
Chapter 10 Transitional Provisions
Directives
Practice Notes
Appendices
Schedules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(2 versions)
 
Jun 30 2014 - Nov 11 2018Nov 12 2018 onwards

7A.01B.4

Notwithstanding the order of priority set out in Rule 7A.01B.3, the following applies where there is more than one auction under Rule 7A.02.1.5.b for an event of default in OTCF Contracts.

If funds that are apportioned to an auction ("first auction") are not exhausted after application pursuant to Rule 7A.01B.3, the unexhausted funds will be used to meet the losses that remain in the other auction(s) ("other auction(s)") in accordance with the following principles:

a. If a Clearing Member is liable to meet losses in the same order of priority in the first auction and the other auction(s), its unexhausted funds from the first auction will be used in the corresponding source in the other auction(s), but only after the funds in that source apportioned to the other auction(s) have been exhausted.
b. If a Clearing Member is liable to meet losses in different orders of priority in the first auction and the other auction(s), its unexhausted Clearing Fund Deposit from the first auction will be used in the source described in Rule 7A.01B.3.e in the other auction(s) and its unexhausted Further Assessment Amount from the first auction will be used in the source described in Rule 7A.01B.3.f in the other auction(s), but only after the funds in those sources apportioned to the other auction(s) have been exhausted.

Added on 30 June 2014 and amended on 12 November 2018.