Rulebooks: Contents

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Rule Amendments

Chapter 4 — Trading Members

Rule Violation Whether composition may be offered Composition Amount which may be Offered by SGX-ST, where SGX-ST has Determined the Trading Member, Approved Executive Director and/or Trading Representative to be Liable Mandatory minimum penalty imposable by the Disciplinary Committee
Rule Chapter/Number Brief Description of Rule Trading Members (or Designated Market Maker, where applicable) Approved Executive Directors Trading Representatives (or Market Making Representative, where applicable)
1st Violation 2nd Violation 3rd Violation 1st Violation 2nd Violation 3rd Violation 1st Violation 2nd Violation 3rd Violation
Chapter 4 — Trading Members
4.5 Trading Rights
4.5.4 Trading Member that holds a licence specified in Rule 4.1.1(1)(b) not to execute Agency Trades for Customers domiciled in Singapore. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A Direct Market Access
4.5A.2(1)(a) Trading Member to have measures covering minimum standards for Direct Market Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.2(1)(b) Trading Member to have measures covering procedures on Direct Market Access for relevant persons Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.2(1)(c) Trading Member to have measures providing information on access and applicable laws for Direct Market Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.2(1)(d) Trading Member to have measures for legally binding agreement on Direct Market Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.2(1)(e) Trading Member to have measures for security arrangements on Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.5A.2(1)(f) Trading Member to assist SGX-ST in any investigation on Direct Market Access in respect of potential violations Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.5A.2(2) Trading Member to have conditions restricting who can delegate Direct Market Access and to have conditions passed to other persons via legally binding agreement Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.2(3) Trading Member to provide report by independent reviewer Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
4.5A.3(1)(a) Trading Member to keep a Sponsored Access record Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.3(1)(b) Trading Member to show Sponsored Access record when requested Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.5A.3(1)(c) Trading Member to have measures on specific requirements for Sponsored Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.3(2)(a) Trading Member to have measures to assure status of Sponsored Access customer Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.3(2)(b) Trading Member to have measures on specific requirements relating to delegation of Sponsored Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.5A.4(1) SGX-ST to direct Trading Member to suspend or terminate Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
4.5A.4(2) Trading Member to have ability to suspend or terminate Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
4.5B Controlling Access
4.5B.1 Trading Member to have security arrangements in place to deny access to unauthorised persons. Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6 Obligations of a Trading Member
4.6.1(1) Trading Member to comply with the Rules, and any Directives SGX-ST prescribes [Unless otherwise specified in this Schedule]
Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.1(2) Failure to continue to satisfy the admission criteria. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.3(2) Trading Member to honour all contracts. Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.4 Trading Member to adhere to good business practice. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.6 Trading Member to supervise Trading Representatives, employees and agents. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7(1) Trading Member to establish procedures and systems to prevent any breach of the Rules and Directives by its Directors, Officers, Trading Representatives, employees or agents. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7(2) Trading Member to establish and maintain adequate internal control system. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7(3) Trading Member to ensure that persons carrying out or enforcing procedures and systems reasonably discharge their duties and obligations. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7A(1)(a) Trading Member to monitor credit risks from acceptance of orders at least daily Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7A(1)(b) Trading Member to have automated pre-execution checks on orders and appropriate internal controls Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7A(1)(c) Trading Member to have error prevention alerts on orders Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7A(1)(d) Trading Member to define and manage sources of liquidity Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.7A(2) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
4.6.7A(2) Trading Member to have automated processes to monitor capital requirements and prudential limits Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.8(1) Trading Member to inform SGX-ST of transaction that will result in a change in control. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.8(2) Trading Member to comply with such restrictions as SGX-ST may impose in the event of a change in control Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.9 Trading Member to report breaches by its Directors, Officers, TRs, employees or agents. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.10 Trading Member to pay all fees, levies and charges. Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
4.6.11 Trading Member to notify SGX-ST if AED ceases to act Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
4.6.12 Trading Member to notify SGX-ST of change in composition of Board of Directors. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.13(1) Trading Member to register Trading Representatives with SGX-ST. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.13(2) Trading Member to enter into written agency agreement with a Remisier. Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
4.6.13(3) Trading Member to inform SGX-ST before a dealer converts to a Remisier and vice versa. Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
4.6.13(6) Trading Member to inform SGX-ST before a Trading Representative ceases to act. Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
4.6.14 Trading Member to inform SGX-ST before any change to its Memorandum and Articles of Association takes effect. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.15(1) Trading Member to inform SGX-ST before engaging in or holding any substantial shareholding in any other businesses. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.15(2) Engagement or shareholding not to breach the law, Rules, Directives or any regulations Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.15(3) Trading Member to supply SGX-ST with any information SGX-ST requires regarding engagement or acquisition of shareholding. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.15(4) Trading Member not to proceed with engagement or acquisition of shareholding when SGX-ST objects, or before expiry of time period stipulated by SGX-ST Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.15(5) Trading Member to end any engagement or shareholding if required to do so by SGX-ST Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.16(1) Trading Member to maintain a register of securities in accordance with the SFA Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.16(2) Trading Member to produce Register when requested by SGX-ST Not Compoundable Not Compoundable N.A. N.A. N.A. N.A.
4.6.16(3) Trading Member to permit SGX-ST to take extracts of the Register. Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.17 Trading Member to inform SGX-ST before effecting any change in business name or contact details. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.18 Trading Member not to issue or allot partly paid shares. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.19 Trading Member not to commence voluntary liquidation without prior written approval of SGX-ST. Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.20(1) Trading Member to recommence business upon expiry of permitted period of cessation specified by SGX-ST Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.20(2) Trading Member not to hold itself out as an active TM during period of cessation of business. Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.6.21(1) Trading Member to assess its business and operational risks and maintain adequate business continuity arrangements Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.21(2) Trading Member to document its business continuity arrangements in a business continuity plan Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.21(3) Trading Member to demonstrate awareness of risks, mitigating measures and state of readiness by way of attestation to the Board of Directors Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
Trading Member to comply with such requirements prescribed by the Relevant Regulatory Authority and principles of good business practice. Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
4.6.21(4) Trading Member to review and test its business continuity plan regularly Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.21(5) Trading Member to appoint emergency contact persons and furnish the contact information to the Exchange Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
Trading Member's emergency person must be contactable at all times Compoundable $500 $1,000 $2,000 $250 $500 $1,000 N.A. N.A. N.A. N.A.
Trading Member to notify the Exchange in the event of emergencies Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.6.22 Trading Member to ensure that systems and connections to SGX-ST operate properly Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.7 Qualification by a Clearing Member
4.7.1(1) Trading Member not to execute a contract on SGX-ST while not qualified by a Clearing Member. Not Compoundable Not Compoundable N.A. N.A. N.A. $10,000
4.7.1(2) Trading Member not to be qualified by more than 1 Clearing Member. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.7.1(3)(a) Trading Member to inform SGX-ST when it is not qualified by a Clearing Member. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.7.1(3)(b) Trading Member to inform SGX-ST when its qualifying Clearing Member is replaced by another Clearing Member. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.7.2 Trading Member to ensure that all contracts concluded on SGX-ST are submitted to its qualifying Clearing Member for clearing Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.8 Resignation
4.8.1(1) Trading Member to give necessary written notice of resignation. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
4.8.1(2) Trading Member not to enter into a contract 7 Market Days from date of notice of resignation without written approval of SGX-ST. Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.

Added on 16 May 2011 and amended on 18 September 2012, 15 March 2013 and 19 May 2014.