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
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
SGX-ST Rules
Section E — Other Business Activities
Chapter 19 — Marginable Futures Contracts
Rule Amendments

19.10.1

For the purpose of this Rule 19.10:—

Term Meaning
"Customer Asset Value" refers to moneys and the market value of assets in a customer's account subject to such hair-cut as specified by SGX-ST.
"Initial Margins" refers to the minimum amount required to be deposited by customers, as prescribed by CDP, with a Trading Member for positions in Marginable Futures Contracts. This minimum amount is distinct from and in addition to Variation Margins.
"Maintenance Margins" refers to that component of Required Margins, as determined by CDP, which must be maintained in a customer's account subsequent to the deposit of Initial Margins for that customer's positions in Marginable Futures Contracts.
"Required Margins" refers to the sum of Maintenance Margins and Variation Margins.
"Valuation Price" means the official price of Marginable Futures Contracts prescribed by SGX-ST for the purpose of determining Variation Margins.
"Variation Margins" refers to that component of Required Margins comprising the mark-to-market gains and losses, in relation to the price at which the Marginable Futures Contract was bought or sold, arising from the daily valuation of positions, except that Variation Margins are not required if the Trading Member permits a customer to realise a gain or loss pursuant to executing a trade to offset an existing position.

A net loss increases the Variation Margins and Required Margins amount, and a net profit decreases the Variation Margins and Required Margins amount.

In calculating the mark-to-market losses or gains, a Trading Member must use the Valuation Price as determined by SGX-ST.