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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  • 6.05 Consolidation of Positions and Other Powers of the Clearing House

    • 6.05.1

      If at any time the Clearing House becomes aware of opposite open positions held by different Clearing Members, or by any Clearing Member and clearing member of any other Relevant Market (or its clearing house), for the account of the same Seller or Buyer, the Clearing House may (but is not obliged to) direct such Clearing Members to take steps to liquidate the offsetting positions.

      Added on 26 January 2007 and amended on 1 October 2009.

    • 6.05.2

      Where a Seller or Buyer has open positions with more than one Clearing Member, or with any Clearing Member and any clearing member of any other Relevant Market (or its clearing house) on the first Business Day following the Last Trading Day, the Clearing House may (but is not obliged to) consolidate all such open positions held by all the Clearing Members and clearing members of such other Relevant Market (or its clearing house) for the same Seller or Buyer in such manner as it deems fit including, without limitation, effecting the following:

      6.05.2.1 appointing one (1) or more of these Clearing Members to whom all such positions shall be transferred to be handled for such Seller or Buyer, where such appointment shall be binding;
      6.05.2.2 requiring any Clearing Member to transfer positions to one (1) or more such clearing members of the other Relevant Market to be handled for such Seller or Buyer;
      6.05.2.3 setting-off any opposite open positions held by the appointed Clearing Member(s) for the account of the same Seller or Buyer; and/or
      6.05.2.4 taking such other actions or giving such other directions to the appointed Clearing Member(s) as it deems fit.

      Added on 22 September 2006 and amended on 26 January 2007 and 1 October 2009.

    • 6.05.3

      Notwithstanding that the Clearing House is entitled to consolidate the open positions of the Clearing Members and the clearing members of any other Relevant Market (or its clearing house) with reference to the account of the Seller or Buyer, nothing in Rule 6.05.2 shall imply or be construed to mean that a Seller or Buyer (who is not a Clearing Member) shall have any right against the Clearing House with regard to its open positions which have been so consolidated.

      Amended on 26 January 2007 and 1 October 2009.