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
Chapter 1 General Matters
Chapter 2 Access and Membership
Chapter 3 Conduct of Members, Approved Traders and Representatives
Chapter 4 Listing and Trading of Contracts
Chapter 5 Physical Delivery
Chapter 6 Dispute Resolution and Arbitration
Chapter 7 Adverse Events, Rule Violations and Disciplinary Action
Chapter 8 Definitions and Interpretation
Chapter 9 Transitional Provisions
Regulatory Notices
Practice Notes
Schedules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

Chapter 2 — Access and Membership

Past version: effective from Mar 15 2013 - Mar 31 2014.
To view other versions open the versions tab on the right.

Rule Violation Whether composition may be offered Composition Amount which may be Offered by the Exchange, where the Exchange has Determined the Member, Approved Trader and/or Registered Representative to be Liable Mandatory minimum penalty imposable by the DC
Rule Chapter/Number Brief Description of Rule Members Approved Traders Registered Representatives
1st Violation 2nd Violation 3rd Violation 1st Violation 2nd Violation 3rd Violation 1st Violation 2nd Violation 3rd Violation
Chapter 2 — Access and Membership
2.1 Access and Trading
2.1.2(a) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.1.2(b) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.1.2(1)(a) Member to have measures covering minimum standards for Direct Market Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2(1)(b) Member to have measures covering procedures on Direct Market Access for relevant persons Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2(1)(c) Member to have measures providing information on access and applicable laws for Direct Market Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2(1)(d) Member to have measures for legally binding agreement on Direct Market Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2(1)(f) Member to assist the Exchange in any investigation on Direct Market Access in respect of potential violations Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.1.2(2) Member to have conditions restricting who can delegate Direct Market Access and to have conditions passed to other persons via legally binding agreement Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2(3) Member to provide report by independent reviewer Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2A(1)(a) Member to keep a Sponsored Access record Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2A(1)(b) Member to show Sponsored Access record when requested Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.1.2A(1)(c) Member to have measures on specific requirements for Sponsored Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2A(2)(a) Member to have measures to assure status of Sponsored Access customer that delegates Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2A(2)(b) Member to have measures on specific requirements relating to delegation of Sponsored Access Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.1.2AB(a) Exchange to direct Member to suspend or terminate Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.1.2AB(b) Member to have ability to suspend or terminate Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.1.3 Persons accessing Partner Markets to comply with the applicable rules, laws and regulations governing trading in the Partner Market Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A.
2.2 Classes of Membership
2.2.2 Trading Member to observe this Rules and any requirements prescribed by the Exchange [Unless otherwise specified in this Schedule]
Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.2.3 Clearing Member to observe this Rules, the Clearing Rules and any requirements as prescribed by the Exchange or the Clearing House [Unless otherwise specified in this Schedule or Schedule A to the Clearing Rules]
Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.3 Admission Criteria for Members
2.3.2(b) Member to notify the Exchange at the time of submission of its application for concurrent membership in another exchange Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.4 Licensing and Credit Rating Requirements for Members, their Employees and Agent
2.4.1 General Trading Member, and its employees and agents to procure and maintain requisite licenses and satisfy licensing requirements for engaging in regulated activity. Not Compoundable Not Compoundable $10,000
2.5 Financial Requirements for Members
2.5.2(b) General Trading Member to comply with financial requirements Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.5.2(c) Bank Trading Members to comply with financial requirements Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.5.4 Member to comply with additional financial, capital and other requirements imposed by the Exchange or the Clearing House Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.5.5 Corporate Member to comply with the prescribed calculation of Financial Resources Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.5.6(a) Corporate Member to immediately notify the Exchange of material changes to Financial Resources and Adjusted Net Head Office Funds Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.5.6(b) Corporate Member to comply with requirements described under Regulation 7(3) of the Financial and Margin Requirements, imposed by the Exchange. Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.5.6(c) Corporate Member to comply with directions of the Exchange on the submission of statements or operation of business. Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.5.6(d) General Trading Member to comply with the requirements described in Regulation 17(2) of the Financial and Margin Requirements, imposed by the Exchange. Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.5.7 General Trading Member to comply with requirements relating to preference shares, unsecured loans & others Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6 Technical Matters & Risk Management Controls
2.6.1 Member to comply with other requirements or restrictions prescribed by Exchange Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.2 Member to have measures for security arrangements on Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.6.2A r/w Regulatory Notice Member to ensure that systems and connections to the Markets operate properly Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.2 Corporate Member to have security arrangements in place to ensure that unauthorised persons are denied Direct Market Access Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.6.3 [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.6.3(1)(a) Corporate Member to monitor credit risks from acceptance of orders at least daily Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(1)(b) Corporate Member to monitor account activity on an intraday basis Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(1)(c) Corporate Member to have automated pre-execution checks on orders and appropriate internal controls Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(1)(d) Corporate Member to have error prevention alerts on orders Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(1)(e) Corporate Member to define and manage sources of liquidity Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(1)(f) Corporate Member to limit the impact of significant market movements Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(1)(g) Corporate Member to maintain a strict separation between credit control, trading, dealing and marketing departments Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.3(2) Corporate Member to have automated processes to monitor capital requirements and prudential limits Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.4 [deleted [deleted [deleted [deleted [deleted [deleted [deleted [deleted [deleted [deleted [deleted [deleted
2.6.4(a) Member to maintain complete and accurate records in accordance with the Rules Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.4(b) Member not to make false or misleading entries Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.6.4(c) Member to make all material entries in any document Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.6.4(d) Member not to alter or destroy any documents Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.6.4(e) Member to make records available to the Exchange at such time as the Exchange requires Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
2.6.5 Corporate Member to comply with accounting, reporting and book-keeping requirements Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.6(a) Member to assess its business and operational risks and maintain adequate business continuity arrangements Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.6(b) Member to document its business continuity arrangements in a business continuity plan Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.6(c) Member to demonstrate awareness of risks, mitigating measures and state of readiness by way of attestation to the Board of Directors Compoundable $500 $1,000 $2,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.6(d) Member to review and test its business continuity plan regularly Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.6.6(e) Member to appoint emergency contact persons and furnish the contact information to the Exchange Compoundable $500 $1,000 $2,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Member's emergency person must be contactable at all times Compoundable $500 $1,000 $2,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
Member must notify the Exchange in the event of emergencies Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.7 Fit and Proper Requirements
2.7.1 Corporate Member to demonstrate appointment of fit and proper persons as Directors, Chief Executive Officer and other specified personnel Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.7.2 Corporate General Trading Member to obtain the prior approval of the Exchange for appointment of CEO & Deputy CEO Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.7.3 Bank Trading Member to notify the Exchange of appointment of CEO & Deputy CEO, within the specified time Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.8 [deleted]
2.8.1(d) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.1(e) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.1(f) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.1(g) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.1(h) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.4 [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.6(a) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.6(b) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.8.6(c) [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted] [deleted]
2.13 Registration of Approved Traders & Registered Representatives
2.13.1 Member to register Approved Traders and Registered Representatives Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.13.2 Approved Trader to register with the Exchange Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A. N.A. N.A. N.A.
2.13.3 Registered Representatives to register with the Exchange Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. $1,000 – $3,000 $3,000 – $6,000 $6,000 – $8,000 N.A.
2.13.6 Member to notify the Exchange of specified occurrences Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.13.7A Member to nofity the Exchange of specified occurrences Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14 Change of Control of Members
2.14.1(a) Corporate Member to notify the Exchange of change in ownership Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(b) Corporate Member to notify the Exchange of changes which may alter the control of the Member Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(c) Corporate Member to notify the Exchange of change in director Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(d) Corporate Member to notify the Exchange of the death or bankruptcy of a director Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(e) Corporate Member to notify the Exchange of any change in senior management Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(f) Corporate Member to notify the Exchange of any alteration to constitutive documents Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(g) Corporate Member to notify the Exchange of any engagement or involvement in any new business or change in business Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.14.1(h) Corporate Member to notify the Exchange of any change in name Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
2.15 Registration, Suspension & Termination of Members
2.15.4(a) Member to comply with the directions of the Exchange if trading privileges are suspended or terminated Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000

Added on 16 May 2011 and amended 15 March 2013.