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

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  • 2.02 Eligibility Criteria for General Clearing Members

    • 2.02.1

      Unless otherwise prescribed by the Clearing House, to be eligible for Clearing Membership as a General Clearing Member, an applicant must satisfy the Clearing House that:—

      2.02.1.1 it is a corporation with the requisite financial and business standing and repute and is or will upon admission be carrying on the business whether in Singapore or elsewhere;
      a. it has a base capital of not less than S$5,000,000; or
      b. in the case of an applicant admitted as a clearing member of the Clearing House and CDP, it has a base capital of not less than S$8,000,000;
      or such other capital and financial requirements as may be prescribed by the Clearing House from time to time;
      2.02.1.2 [Rule has been deleted];
      2.02.1.2A it holds a Capital Markets Services Licence unless exempted under the SFA or SFR (Licensing and Conduct of Business);
      2.02.1.3 it has, and upon admission will maintain, minimum capital and financial requirements pursuant to Rule 2.07 or Rule 2.08;
      2.02.1.4 it has, and upon admission will maintain, a special reserve fund pursuant to Rule 2.09 or Rule 2.10, as the case may be;
      2.02.1.5 its managerial or executive staff have a high standard of integrity and a level of knowledge (as may be deemed acceptable by the Clearing House) on the nature, risks and obligations in respect of the market or contracts that it wishes to clear;
      2.02.1.6 it must have in place sufficient resources and establish and maintain adequate systems for preserving a sound liquidity and financial position at all times including the maintaining of adequate staff and facilities for monitoring its cashflow and funding requirements and maintaining sufficient liquidity for its day to day operations;
      2.02.1.7 it must maintain segregated and adequate back-office functions; and
      2.02.1.8 it satisfies any and all other requirements and criteria for such Clearing Membership, which the Clearing House may from time to time hereafter prescribe.

      Amended on 27 March 2006, 22 September 2006, 10 August 2007, 31 December 2013 and 29 December 2014.

    • 2.02.2 [Rule has been deleted.]

      Deleted on 17 July 2019.

    • 2.02.2A [Rule has been deleted.]

      Deleted on 17 July 2019.

    • 2.02.3 [Rule has been deleted.]

      Deleted on 17 July 2019.