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.3.1, 5A.3.4 — Position Account Allocation
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.3.1, 5A.3.4 — Position Account Allocation

Issue Date Cross Reference Enquiries
Added on 1 July 2016. Rules 5A.3.1, 5A.3.4. Please contact Member Supervision:

Facsimile No: 6538 8273

1. Rule 5A.3.1 requires each Clearing Member to allocate the position of each trade cleared by the Clearing Member for a Customer to that Customer's Position Account or in accordance with that Customer's instructions, as soon as practicable, and in any event no later than such time as may be required for timely and orderly settlement of the relevant trade into the intended Securities Account. This Practice Note provides guidance on the timelines within which such allocation is to be completed by in various circumstances.

2. With the exception of warehoused trades, each Clearing Member shall allocate the position of each trade cleared by the Clearing Member for a Customer to that Customer's Position Account or in accordance with that Customer's instructions immediately upon the trade being cleared, or at the latest by the end of the next Market Day immediately following the trade date. 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 is when an overseas customer has failed to provide the necessary allocation instructions in time for the Clearing Member to conduct allocation by the end of the next Market Day immediately following the trade date, due to time zone differences.

3. For warehoused trades under Rule 5A.3.4, each Clearing Member shall ensure that no trades are warehoused for more than 2 Market Days, unless under exceptional circumstances. Each Clearing Member shall allocate the position of each trade to the relevant Customer's Position Account or in accordance with that Customer's instructions, immediately after the order is completed, or at the latest by the end of the Market Day on which the order is completed. 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 is when an overseas customer has failed to provide the necessary allocation instructions in time for the Clearing Member to conduct allocation by the end of the Market Day on which the order is completed, due to time zone differences.