Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
Definitions and Interpretation
Section A — General
Section B — Market Participants
Section C — Market Structure
Section D — Regulatory Framework
Section E — Other Business Activities
Section F — Transitional Provisions
Directives
Practice Notes
Practice Note 9.4.3A(b) Money Received on Account of Customer
Schedules
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
Rule Amendments

  Versions
(1 version)
 
Dec 10 2018 onwards

Practice Note 9.4.3A(b) Money Received on Account of Customer

Issue Date Cross Reference Enquiries
Added on 10 December 2018. Rule 9.4.3A(b) Please contact Member Supervision:

E-Mail Address: membersup@sgx.com
1. Rule 9.4.3A(b) states that a buying customer, who is not a buying customer specified in Rule 9.4.3A(a), must pay the Trading Member for its trade on Intended Settlement Day, regardless of whether securities have been delivered by CDP.
2. For the avoidance of doubt, where securities have not been delivered by CDP on Intended Settlement Day, the payment by the customer provided in Rule 9.4.3A(b) shall be treated as money received on account of its customer for the purposes of SFR (Licensing and Conduct of Business). The Trading Member must therefore still comply with Rules 12.11 and 12.12 in relation to any money paid by the buying customer to the Trading Member, including, where relevant, the requirement to deposit the money received on account of its customer in a trust account no later than such time as required in the SFR (Licensing and Conduct of Business). The Trading Member is permitted to withdraw such money from the trust account for the purpose of making payment to CDP for the customer's trade when such payment is due.
3. This Practice Note does not preclude the Trading Member from applying the payment towards permitted uses as set out in the SFR (Licensing and Conduct of Business) and/or relevant law.