Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
Chapter 1 General
Chapter 2 Admission and Registration of Trading Members, Chief Executive Officers and Trading Representatives
Chapter 3 Capital and Financial Requirements
Chapter 4 Operational Requirements
Chapter 5 Trading Practices and Conduct
Chapter 6 Designated Market-Makers
Chapter 7 Listing and Quotation
Chapter 8 Trading
Chapter 9 Settlement
Chapter 10 Requirements on Specific Securities and Futures Contracts
Chapter 11 Cancellation of Contracts and Trades
Chapter 12 Supervision and Enforcement
Chapter 13 Definitions and Interpretation
Directives
Regulatory Notices
Practice Notes
Schedule A
CDP Clearing Rules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(1 version)
 
Jun 3 2019 onwards

4.39.10

Trade Restrictions for Trading Member Undertaking Research

A Trading Member and its staff undertaking research activities must not:

(a) knowingly buy or sell a security or futures contract if the Trading Member or its staff has material information not generally available to the public in relation to the security or futures contract;
(b) except on instructions from a customer, knowingly buy or sell a security or futures contract if the transaction may create a conflict of interest in relation to the Trading Member's duty to its customers;
(c) procure any person to buy or sell a security or futures contract if the Trading Member or its staff is prohibited under Rules 4.39.10(a) or (b) from doing so; and
(d) buy or sell a security or futures contract contrary to the most recent research report published by the Trading Member, unless sufficient time has passed since the report's publication for the market to react to the information. This trading restriction does not apply:
(i) to the Trading Member if the Trading Member is acting on a customer's express instructions;
(ii) to the Trading Member and its staff undertaking research activities if significant news is announced that would change the research report or investment recommendation; or
(iii) to a staff member undertaking research activities if the staff member is in financial difficulty and must sell the security or futures contract. The Trading Member must maintain documentation of the staff member's financial condition;
(iv) to the Trading Member if the proprietary desk of the Trading Member had no knowledge of the report and its contents before it was issued.

Added on 3 June 2019.