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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  • 2.35 Force Majeure

    • 2.35.1

      Without prejudice to Rule 1.01.2, none of the Clearing House, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.01.8, and their respective directors, officers, employees, representatives or agents ("Relevant Persons") shall be liable for, or for any thing done or not done as a direct or indirect consequence of, any failure, hindrance or delay in performance in whole or in part of the Clearing House's obligations under the terms of this Rules or of any Contract if such failure, hindrance or delay arises out of events or circumstances beyond the Relevant Person's control. Such events or circumstances may include, but are not limited to, acts of God or the public enemy, acts of a civil or military authority other than the acts referred in Rule 2.34 above, embargoes, fire, flood, labour dispute, unavailability or restriction of computer or data processing facilities, energy supplies, or of bank transfer systems or wires, and any other causes beyond the Relevant Person's reasonable control.

      Amended on 27 March 2006, 15 September 2017 and 3 June 2019.

    • 2.35.2

      On the happening of any one (1) or more of the events or circumstances referred to in Rule 2.35.1 above, the Clearing House and any party affected shall immediately notify the same to the relevant party or parties.

      Amended on 27 March 2006.

    • 2.35.3

      In respect of affected Contracts, the Clearing House shall be entitled at any time after the receipt of such notice by the Clearing House or any relevant Clearing Member or Third Party, to close out some or all Contracts in the relevant Clearing Member's name at a price determined by the Clearing House, or to take such other action as it deems necessary or desirable in respect of some or all of the affected Contracts in the relevant Clearing Member's name or require the relevant Clearing Member to take such action as the Clearing House may direct in respect of the same.

    • 2.35.4

      Without prejudice to the generality of the foregoing, the Relevant Persons shall not be liable for, or for any thing done or not done as a direct or indirect consequence of, any failure, hindrance or delay in the performance (in whole or in part) of any of the Clearing House's obligations to Clearing Members with regard to any securities or instruments accepted as margin where such failure, hindrance or delay arises from causes beyond the Clearing House's control, such as but not limited to the failure whether partial or total, interruption or suspension of any depository or custodian or other service ("depository", which expression shall include banks or financial institutions with which cash, securities or instruments are placed with) the Clearing House is using, the termination or suspension of the Clearing House's membership or use of the depository or any variation of the depository's operational timetable, whether or not occasioned by action of the depository operator or other party, or any embargo, unavailability or restriction of bank transfer systems or wires, malfunction or overload of the depository or other emergency.

      Amended on 15 September 2017 and 3 June 2019.