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
Chapter 1 Application of Rules
Chapter 2 Clearing Membership
Chapter 3 Committees
Chapter 4 Enforcement of Rules
Chapter 5 Arbitration
Chapter 6 Delivery and Related Matters
Chapter 7 Clearing and Margins
Chapter 7A Suspension and Default
Chapter 7B Payments
Chapter 8 Mutual Offset System
Chapter 9 Definitions and Interpretation
Chapter 10 Transitional Provisions
Directives
Practice Notes
Appendices
Schedules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

7.04.5A

Past version: effective up to Apr 25 2013.
To view other versions open the versions tab on the right.

If the Clearing House accepts an Eligible OTCF Transaction registered for clearing pursuant to Rule 7.02AA.2, the Clearing House shall, subject always to Rule 7.04.5C, be substituted as and shall assume the position of:

(a) the Clearing Member who:
(i) is the First Original OTCF Contract Counterparty; or
(ii) assumes the duties and obligations of the First Original OTCF Contract Counterparty
to the Clearing Member who:
(iii) is the Second Original OTCF Contract Counterparty; or
(iv) assumes the duties and obligations of the Second Original OTCF Contract Counterparty; and
(b) the Clearing Member who:
(i) is the Second Original OTCF Contract Counterparty; or
(ii) assumes the duties and obligations of the Second Original OTCF Contract Counterparty
to the Clearing Member who:
(iii) is the First Original OTCF Contract Counterparty; or
(iv) assumes the duties and obligations of the First Original OTCF Contract Counterparty,

thereby becoming the central counterparty, and thereupon the Clearing House shall have all the rights and be subject to all the liabilities with respect to such transaction of the Clearing Members who were the parties to such transaction. Such substitution shall be effective in law for all purposes.

Added on 3 November 2010.