Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
Definitions and Interpretation
Definitions
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
Schedules
CDP Clearing Rules
DVP Rules
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Rule Amendments

Definitions

The following terms have the following meanings unless the context requires otherwise:—

A   B   C   D   E   F   G   H   I   J   K   L   M   N   O   P   Q   R   S   T   U   V   W   X   Y   Z

Term Meaning
A
"Accredited Investor" Same meaning as in the Securities and Futures Act.
"Appeals Committee" The committee appointed by the Board of Directors of SGX to exercise the powers in the Supervisory Rules;
"ASEAN Trading Linkage" Order-routing service provided by SGX-ST to Trading Members, whether directly or through any other person, through which:
(a) a Trading Member may enter orders directly into a market of a Foreign ASEAN Exchange, as a customer of a member of such Foreign ASEAN Exchange; and
(b) the customer of a Trading Member to whom the Trading Member has authorised Sponsored Access, may enter orders directly into SGX-ST.
"Associated Corporation" Any body corporate formed in or out of Singapore in which a Trading Member and its related corporations hold directly or indirectly a beneficial interest of not less than 20% of the issued share capital;
"Authority" The Monetary Authority of Singapore or other body responsible for the administration of the Securities and Futures Act;
B
"Board" Board of Directors of SGX-ST;
C
"CDP" The Central Depository (Pte) Limited;
"Circuit Breaker" in relation to a security or Futures Contract refers to such maximum allowable price advance or decline from a reference price for the security or Futures Contract during the Trading Phase. The maximum allowable price advance or decline from a reference price and the reference price shall be determined by SGX-ST.
"Clearing Member" A Clearing Member in accordance with the Clearing Rules;
"Clearing Rules" CDP Clearing Rules as in effect from time to time;
"Connected Person"
(a) A person's spouse, son, adopted son, step-son, daughter, adopted daughter, step-daughter, father, mother, brother or sister; or
(b) A firm , Corporation or company in which any of the persons mentioned in (a) above is in a position to control not less than 20% of the voting power in the firm, Corporation or company, whether such control is exercised individually or jointly;
"Contract Specifications" means the commercial and technical terms of a Marginable Futures Contract, including the contract size, contract month, underlying security, Last Trading Day and settlement basis. Unless otherwise stated, Contract Specifications are not subject to the rule amendment procedures specified under the SFA.
"Cooling-Off Period" means a period prescribed by SGX-ST during which trading in a particular security or Futures Contract will be restricted in a manner prescribed by SGX-ST.
"Corporation" Same meaning as in the Companies Act;
D
"Dealer" A Trading Representative who is employed by a Trading Member or its group of companies to deal in securities and/or trade in Futures Contracts;
"Designated Market-Maker" A market-maker registered with SGX-ST;
"Designated Futures Contract" Shall have the meaning ascribed to it in Rule 8.8.1;
"Designated Security" Shall have the meaning ascribed to it in Rule 8.8.1;
"Direct Business" A trade which is not executed on the Trading System in accordance with Rule 8.7;
"Directives" Requirements prescribed by SGX-ST;
"Direct Market Access" Direct access to the Trading System, via an SGX-ST provided or SGX-ST approved order management system through which orders are routed to the Trading System.

Direct Market Access does not include Internet Trading.
"Director" Same meaning as in the Companies Act;
"Disciplinary Committee" The committee appointed by the Board to exercise the powers in the Supervisory Rules;
"Discretionary Account" An account carried on the books of a Trading Member in which the customer gives a Trading Representative discretion, which may be absolute or with limits, to purchase or sell securities or trade in Futures Contracts. The discretion may extend to selection, timing terms and price;
"DVP settlement" Settlement of affirmed trades where payment is made against the transfer;
E
"Exchange Link" The electronic means by which:—
(a) SGX-SPV routes orders for Selected Foreign Securities to the Foreign Portal Dealer and receives orders for Selected SGX Securities from the Foreign Portal Dealer; and
(b) A Foreign Portal Dealer routes orders for Selected SGX Securities to SGX-SPV and receives orders for Selected Foreign Securities from SGX-SPV;
F
"Foreign ASEAN Exchange" Shall have the meaning ascribed to it in Rule 10A.5.2.
"Foreign Exchange" In relation to the Foreign Market Linkages Rule, means a securities exchange outside Singapore that has agreed to an electronic co-trading, clearing and settlement link of Selected Foreign Securities or Selected SGX Securities with SGX-ST;
"Foreign Market" In relation to the Foreign Market Linkages Rule, means a market administered by the Foreign Exchange which has access to the market via the Exchange Link;
"Foreign Portal Dealer" A Foreign Exchange or a related body corporate of Foreign Exchange that acts as an intermediary to allow:—
(a) Singapore investors to trade, clear and settle Selected Foreign Securities on a Foreign Market; and
(b) Foreign investors to trade, clear and settle Selected SGX Securities via a Foreign Market;
"Futures Contract" Refers to a futures contract, as defined under the Securities and Futures Act, which is approved for listing on SGX-ST;
I
"Immediate Bargains" Any transaction for delivery at the trade date;
"Institutional Investor" Same meaning as in the Securities and Futures Act.
"Internet Trading" Trading access to SGX-ST through internet broking services provided by a Trading Member.
"Issuer" An entity that is quoted or listed on SGX-ST;
L
"Last Trading Day" Refers to the last day on which a Marginable Futures Contract may be traded prior to its expiration;
"Limit Order" An order to be executed at a specific price or better;
M
"Marginable Futures Contract" Refers to a Futures Contract approved for listing on SGX-ST and which is subject to margin requirements;
"Marginable Securities"
(a) Securities quoted on SGX-ST;
(b) Securities quoted on the Non-Listed Securities market;
(c) Securities quoted on the main board of a securities exchange, of a company with shareholders' funds of not less than $200 million (or equivalent); and
(d) Any other securities that SGX-ST approves;
"Market Day" A day on which SGX-ST is open for trading in securities and/or Futures Contracts;
"Marketable Securities"
(a) Securities quoted on SGX-ST;
(b) Securities quoted on the Non-Listed Securities market;
(c) Securities quoted on the main board of a securities exchange, of a company with shareholders' funds of not less than $200 million (or equivalent); and
(d) Any other securities that SGX-ST approves;
"Maximum Spread" In relation to a 2-sided market-making order, the maximum difference allowed by SGX-ST between the bid price and the ask price;
N
"Non-Listed Security" Refers to:
(a) a security listed on an overseas exchange; or
(b) Singapore Government Securities;

which are approved by SGX-ST for quotation and trading on the Non-Listed Securities Market;

"Non-Listed Securities market" A place at which, or a facility by means which, offers or invitations to sell, purchase or exchange a Non-Listed Security are regularly made;
O
"Officer" Same meaning as in the Companies Act;
"Official List" The list of issuers maintained by SGX-ST in relation to the SGX Mainboard or SGX Catalist;
P
"Position Account" Shall have the meaning ascribed to it in the Clearing Rules;
"Practice Notes" Non-binding guidelines that seek to explain the application and interpretation of a Rule.
“Prescribed Security” Shall have the meaning ascribed to it in Rule 8.2A.1;
"Public" Persons other than:—
(a) Directors, Officers, Employees, Trading Representatives, agents or shareholders of the Trading Member and its subsidiary companies; and
(b) Connected persons to those mentioned in paragraph (a);
"Public Register of Representatives" [Deleted]
Q
"Qualification" The guarantee of a Clearing Member to accept liability for all contracts executed on SGX-ST by a Trading Member which it has qualified;
R
"Relevant Regulatory Authority" Shall mean:
(a) the authority(ies) or regulatory body(ies) that regulate(s) a Trading Member's or its Trading Representatives' activities in the country where it is carrying on such activities; and
(b) where the Trading Member or its Trading Representatives are carrying on regulated activities in Singapore, the Authority,
"Remisier" A Trading Representative who has a business arrangement with a Trading Member that holds a Capital Markets Services Licence for dealing in securities or trading in Futures Contracts. A Remisier is not an employee of a Trading Member;
"Rules" SGX-ST Rules, excluding practice notes or any notes or other annotations to the SGX-ST Rules;
S
"Selected Foreign Security" A security traded on a Foreign Market that is eligible to be traded via the Service, as agreed between SGX-ST and the Foreign Exchange from time to time;
"Selected SGX Security" A security traded on SGX-ST that is eligible to be traded via the Service, as agreed between SGX-ST and the Foreign Exchange from time to time;
"Service" In relation to the Foreign Market Linkages Rule, means the service offered to Trading Members or trading participants of a Foreign Exchange (as the case may be) for co-trading, clearing and settlement of Selected Foreign Securities or Selected SGX Securities;
"SGX" Singapore Exchange Limited;
"SGXAccess" The facility for trading on SGX-ST which allows a Trading Member's systems for order management and automated order routing to connect to the Trading System, and to capture market data and news feeds from SGX-ST;
"SGX-SPV" A subsidiary of SGX that operates the Service under the Foreign Market Linkages Rule;
"SGX-ST" Singapore Exchange Securities Trading Limited;
"SGX-ST approved Order Management System" An order management system that has passed conformance testing and meets appropriate technical specifications as required by SGX-ST.
"SGX Catalist" The Catalist Board operated by SGX-ST;
"SGX Mainboard" SGX-ST Mainboard;
"Specified Securities" Securities, Futures Contracts or classes of securities or Futures Contracts that SGX-ST prescribes for trading by a Designated Market-Maker;
"Sponsored Access" A form of Direct Market Access in which a Trading Member permits its customer and any other persons to use its member ID to transmit orders for execution directly to SGX-ST without using the Trading Member's infrastructure.
"Stock Account" The securities account maintained by a Trading Member to house its proprietary securities or structured warrants;
T
"Trading Account" An account used for sending orders to the Trading System through an SGX-ST provided or SGX-ST approved order management system.
"Trading Member" An entity that has been approved as Trading Member in accordance with SGX-ST Rules;
"Trading Representative" A person who is employed by or acts for or by arrangement with a Trading Member to deal in securities or trade in Futures Contracts;
"Trading System" Any electronic trading system for the automatic matching of orders designated and approved by SGX-ST for transactions on SGX-ST.

Amended on 3 April 2008, 23 January 2009, 29 November 2010, 8 July 2011, 18 September 2012, 26 April 2013, 24 February 2014, 24 February 2014, 19 May 2014, 1 July 2014, 29 December 2014, 1 July 2016 and 16 September 2016.