Rulebooks: Contents

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  • 8.8 Designated Instruments

    Amended on 8 October 2018.

    • 8.8.1

      The Board may declare publicly a listed or quoted security or futures contract to be a "Designated Instrument" if, in its opinion, there has been manipulation of the security or futures contract (or its underlying), excessive speculation in the security or futures contract (or its underlying), or it is otherwise desirable in the interests of organised markets established or operated by SGX-ST.

      Refer to Practice Note 8.8.1.

      Amended on 3 April 2008 and 8 October 2018.

    • 8.8.2

      The Board may impose any conditions it thinks fit on dealing or trading in a Designated Instrument. A condition applies from the date of declaration to all contracts of the Designated Instrument entered into on or after the date of declaration, or as indicated by the Board. For avoidance of doubt, the conditions may include:

      (1) a requirement that Trading Members obtain margins from each customer in respect of the customer's dealing or trading in the Designated Instrument;
      (2) [deleted];
      (3) a restriction on dealing or trading in a Designated Instrument by a Trading Member if its outstanding contracts exceed 5% of the total issued shares or units of the relevant Issuer whose shares or units are designated or underlies the Designated Instrument, of the company whose securities comprise the underlying, or any other percentage the Board prescribes; or
      (4) a prohibition on any sale unless the seller holds the Designated Instrument, or in the case of a Designated Instrument that is a futures contract, the underlying. A seller holds a security or futures contract, or underlying if, at the time of sale, he has the security, futures contract or underlying in an account maintained with CDP, or delivers the share certificates and executed transfer forms to the Trading Member.

      Amended on 3 April 2008, 1 July 2014 and 8 October 2018.

    • 8.8.3

      If asked, a Trading Member must give SGX-ST particulars of all its dealings or trades in Designated Instruments and of the customers involved. The Trading Member must do so by the next business day after being asked or as required.

      Amended on 3 April 2008 and 8 October 2018.

    • 8.8.4

      The Board may rescind or vary a declaration at any time. It will make the decision public.