Rulebooks: Contents

Rulebooks
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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
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Appendices
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SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

  Versions
(2 versions)
 
Aug 7 2012 - May 1 2016May 2 2016 onwards

7A.07.4

Past version: effective from Aug 7 2012 - May 1 2016.
To view other versions open the versions tab on the right.

Upon the specification of a Termination Date:

a. all obligations of the Clearing House and the Clearing Member in respect of any Contract between them shall cease to exist from the Termination Date, provided that such termination shall have no effect upon the rights and obligations under such Contract, which rights and obligations shall survive such termination, and any obligations to make further payments or deliveries which would otherwise have fallen due shall be satisfied by settlement (whether by payment, set-off or otherwise) of the Termination Amount;
b. the Clearing House shall (on, or as soon as reasonably practicable after, the Termination Date) determine the Clearing Member's total loss or total gain (as the case may be) in respect of each Contract, in each case expressed in Singapore Dollars (the "Base Currency");
c. the Clearing House shall treat each gain to the Clearing Member as a positive amount and each loss by that Clearing Member as a negative amount and shall, in accordance with Rule 7A.07.4, aggregate all of such amounts to produce a single, net positive or negative amount, denominated in the Base Currency (the "Termination Amount"); and
d. where a Clearing Member has a house and one or more client accounts:
(i) the Clearing House shall determine two net amounts under Rule 7A.07.4 (c); one net amount in respect of gains and losses arising on Contracts registered in the Clearing Member's client account (or client accounts as combined) and a second net amount in respect of gains and losses arising on all other Contracts; and
(ii) the two net amounts determined under Rule 7A.07.4(d)(i) each shall constitute Termination Amounts.

Added on 7 August 2012.