Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
Rule 1 — Application and Definitions
Rule 2 — Administration
Rule 3 — Membership
Rule 4 — Appointment of Approved Executive Directors and Directors
Rule 5 — Financial/Capital Requirements
Rule 5A — Position Accounts
Rule 6 — Clearing and Settlement
Rule 6A — Margin Requirements
Rule 6B — Collateral
Rule 6C — Payments
Rule 7 — Clearing Fund
Rule 8 — Default Rules
Rule 9 — Suspension or Restriction of Clearing
Rule 10 — Liabilities of CDP
Rule 11 — Supervisory Rules
Rule 12 — Foreign Market Links
Rule 13 — General
Rule 14 — Transitional Provisions
Appendices
Practice Notes
Practice Note 5A.2.1, 5A.2.2 — Position Account Reporting
Schedules
DVP Rules
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Rule Amendments

  Versions
(1 version)
 
Jul 1 2016 onwards

Practice Note 5A.2.1, 5A.2.2 — Position Account Reporting

Issue Date Cross Reference Enquiries
Added on 1 July 2016. Rules 5A.2.1, 5A.2.2. Please contact Member Supervision:

Facsimile No : 6538 8273


Please contact Risk Management:

Facsimile No : 6532 0297
E-Mail Address: rm-securities@sgx.com

1. Introduction

1.1. Rule 5A.2.1 requires each Clearing Member to report to CDP such information as CDP may require for each Position Account opened with CDP as soon as practicable, and in any event, no later than such time as may be required for timely and orderly settlement of the first trade cleared by the Clearing Member for the Customer into the intended Securities Account. In addition, Rule 5A.2.2 requires each Clearing Member to report to CDP any change in information previously reported to CDP for any Position Account as soon as practicable.
1.2. This Practice Note provides guidance on some of the types of information in relation to Position Accounts that are to be reported to CDP under Rule 5A.2.1.
1.3. This Practice Note also provides guidance on the timelines within which reporting of Position Account information and reporting of changes in Position Account information are to be completed by.
1.4 The terms "Trading Representative" and "Remisier" as used in this Practice Note shall have the meanings as ascribed to them in the SGX-ST Rules.

2. Type of Information

2.1. Each Clearing Member shall report to CDP such information as CDP may require in relation to Position Accounts. The information required may be communicated by CDP to Clearing Members through technical specifications or other mediums as CDP may determine.
2.2 For the following types of information, each Clearing Member shall report in accordance with the criteria set out in the tables below:

(a) Origin

Description of origin Criteria
Customer The origin of a Position Account shall be reported as "Customer" if the Position Account holder is a customer, as defined in Part III of the Securities and Futures (Licensing and Conduct of Business) Regulations.
House The origin of a Position Account shall be reported as "House" if the Position Account holder is neither a customer, as defined in Part III of the Securities and Futures (Licensing and Conduct of Business) Regulations, nor a Remisier, as defined in the SGX-ST Rules.
Remisier of the Member The origin of a Position Account shall be reported as "Remisier" if the Position Account holder is a Remisier of the member, as defined in SGX-ST Rules.

(b) Ownership Type

Description of origin Criteria
SGX Member The ownership type of the account shall be reported as "SGX Member" if the account holder is the Clearing Member itself.
Individual Person The ownership type of the account shall be reported as "Individual Person" if the account holder is an individual, except where such individual is an officer, employee, non-executive director or Trading Representative of the Clearing Member.

This value shall be used for joint accounts of two or more individuals, except where any party to the account is an officer, employee, non-executive director or Trading Representative of the Clearing Member.
Officers and employees of the Member
(excluding Trading Representatives)
The ownership type of the account shall be reported as "Officers and employees of Member (excluding Trading Representatives)" if the account holder is
(a) an approved executive director of the Clearing Member (regardless of whether such approved executive director is a Trading Representative); or
(b) an officer or employee of the Clearing Member, but not a Trading Representative of the Clearing Member.
Non-executive Director of Member The ownership type of the account shall be reported as “Non-executive Director of Member” if the account holder is a non-executive director of the Clearing Member.
Trading Representative of Member – Remisier The ownership type of the account shall be reported as "Trading Representative of Member – Remisier" if the account holder is a Remisier of the Clearing Member.
Trading Representative of Member – non-Remisier The ownership type of the account shall be reported as "Trading Representative of Member – non-Remisier" if the account holder is a Trading Representative of the Clearing Member and not a Remisier of the Clearing Member.
Related Entity The ownership type of the account shall be reported as "Related Entity" if the account holder is a related entity of the Clearing Member.

"Entity" here includes corporates, unincorporated societies/associations, trusts, partnerships and limited liability partnerships, but excludes statutory boards and government bodies.
Non-Related Entity The ownership type of the account shall be reported as "Non-Related Entity" if the account holder is an entity that is not a Related Entity.

"Entity" here includes corporates, unincorporated societies/associations, trusts, partnerships and limited liability partnerships, but excludes statutory boards and government bodies.
Statutory Board/ Government Body The ownership type of the account shall be reported as "Statutory Board/Government Body" if the account holder is a statutory board or government body, including those of a foreign jurisdiction.


3. Manner of reporting to CDP

3.1. Each Clearing Member shall report to CDP such information as CDP may require in relation to Position Accounts in such manner as may be determined by CDP.

4. Timelines for Position Account reporting

4.1. Each Clearing Member is required to perform the obligations required under Rule 5A.2.1 as soon as practicable, and in any event, no later than such time as may be required for timely and orderly settlement of the first trade cleared by the Clearing Member for the Customer into the intended Securities Account. Each Clearing Member is also required to perform the obligations required under Rule 5A.2.2 as soon as practicable.
4.2. For Rule 5A.2.1, each Clearing Member shall report to CDP such information as CDP may require for a Position Account opened with CDP before the Clearing Member first clears a trade for the relevant Position Account holder.
4.3. For Rule 5A.2.2, each Clearing Member shall report to CDP any change in information previously reported to CDP for any Position Account by the end of the next Market Day from the time when the Clearing Member receives notice of the change. If there is a delay, the Clearing Member shall ensure that there are valid reasons to explain the delay. An example of a valid reason for delay includes when the customer has first notified the Clearing Member of a change in information, but fails to provide sufficient or complete information in time for the Clearing Member to update the change in information by the required time, and such delay is not due to the Clearing Member's negligence and/or other internal control weaknesses.