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
Rule Amendments

  Versions
(2 versions)
 
May 16 2011 - Dec 9 2018Dec 10 2018 onwards

Chapter 9 — Settlement

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 9 — Settlement
9.2 Relationship Between Trading Member and Selling Customer
9.2.2A Trading Member must make payment of sale proceeds to the selling customer within prescribed timelines. 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.
9.3 Relationship Between Trading Member and Clearing Member
9.3.4 Buying Trading Member must, where relevant, submit delivery-versus-payment settlement instructions within prescribed timelines, and/or make payment for its trade within prescribed timelines. 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.
9.4 Relationship Between Trading Member and Buying Customer
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9.4.2B Trading Member, if informed by CDP or its Clearing Member that a right to receive securities pursuant to an Exchange Trade is to be replaced with a right to receive a monetary sum ("Cash Settlement Amount") pursuant to the Clearing Rules, to immediately inform the relevant buying 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.
9.4.3 Trading Member to deliver securities to the buying customer within prescribed timelines; and/or make payment of any Cash Settlement Amount, corporate action entitlements or compensation for corporate action entitlements pursuant to the Clearing Rules, to the buying customer, within prescribed timelines. 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.
9.4.3B Subject to Rules 9.4.4, if a buying customer fails to meet any of the timelines in Rule 9.4.3A, Trading Member to force-sell the securities of the buying customer within prescribed timelines. 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.
9.4.5 Trading Member not to engage in imprudent credit practices when exercising discretion with regards to deferment of force-sale. 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.
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Added on 16 May 2011 and amended on 10 December 2018.