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
Appendix 2 — Contracts of Other Relevant Markets Accepted by the Clearing House
Schedules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

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  • Appendices

    • Appendix 1 — Final Settlement Price

      Oil Swaps Contracts

      Products Dubai Brent / Dubai Crude Oil Spread Swap Gasoil Kerosene Naphtha
      Contract Dubai Crude Oil Swap Brent / Dubai Crude Oil Spread Swap Gasoil Swap FOB Singapore Kerosene Swap FOB Singapore Naphtha Swap FOB Singapore Naphtha CFR Japan Balance-of-Month Naphtha CFR Japan
      Final Settlement Price Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. Cash settlement using arithmetic average of Platts daily spot assessments in the contract month, rounded to three decimal places. Cash settlement using the arithmetic average of the remaining assessments of Platts's daily spot assessments in the contract month (inclusive of the current Business Day), rounded to three decimal places.


      Products Fuel Oil 180 Fuel Oil 380
      Contract Singapore Fuel Oil 180cst Swap, 3.5% sulfur Singapore Fuel Oil 380cst Swap, 4% sulfur
      Final Settlement Price Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places.


      Products Mini Fuel Oil 180 CST Mini Fuel Oil 380 CST BOM Mini Fuel Oil 180 CST BOM Mini Fuel Oil 380 CST
      Contract Mini Singapore Fuel Oil 180 CST Swap, 3.5% Sulfur Mini Singapore Fuel Oil 380 CST Swap, 4% Sulfur Balance-of-Month Mini Singapore Fuel Oil 180cst Swap, 3.5% Sulphur Balance-of-Month Mini Singapore Fuel Oil 380cst Swap, 4% Sulphur
      Final Settlement Price Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. Cash settlement using the arithmetic average of the remaining assessments of Platts's daily spot assessments in the contract month (inclusive of the current Business Day), rounded to three decimal places.


      Products Visco Regrade
      Contract Fuel Oil 180cst vs 380cst Swaps Differential Kerosene vs Gasoil Swaps Differential
      Final Settlement Price FSP of Fuel Oil 180cst Swap minus FSP of Fuel Oil 380cst Swap FSP of Kerosene Swap FOB Singapore minus FSP of Gasoil Swap FOB Singapore


      Products Petrochemical Swaps
      Contract SGX Platts Benzene-Naphtha Swap SGX Platts Paraxylene-Naphtha Swap SGX PLATTS PX CFR China Swap Benzene FOB Korea Swaps Balance-of-Month Benzene
      Final Settlement Price Cash settlement using the arithmetic difference between the Final Settlement Prices of the SGX Platts BZ FOB Korea Swap and the SGX Platts Naphtha CFR Japan Swap, rounded to 3 decimal places. Cash settlement using the arithmetic difference between the Final Settlement Prices of the SGX Platts PX CFR Taiwan/China Swap and the SGX Platts Naphtha CFR Japan Swap, rounded to 3 decimal places. Cash settlement using the arithmetic average of all Platts PX daily spot price assessments in the contract month, rounded to 2 decimal places Cash settlement using the arithmetic average of Platts daily spot 'marker' physical cargo assessments in the contract month, rounded to 3 decimal places. Cash settlement using the arithmetic average of the remaining assessments of Platts's daily spot marker physical cargo assessments in the contract month (inclusive of the current Business Day), rounded to three decimal places.


      Products BOM Dubai BOM Gasoil BOM Kerosene BOM Fuel Oil 180 BOM Fuel Oil 380
      Contract Balance-of-month Dubai Crude Oil Swap Balance-of-month Gasoil Swap FOB Singapore Balance-of-month Kerosene Swap FOB Singapore Balance-of-month Singapore Fuel Oil 180 cst Swap, 3.5% sulfur Balance-of-month Singapore Fuel Oil 380 cst Swap, 4% sulfur
      Final Settlement Price Arithmetic average of the remaining assessments of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places.


      Product Gasoline 92 Gasoline 95 BOM Gasoline 92 BOM Gasoline 95
      Contract Gasoline 92 RON FOB Singapore Swap Gasoline 95 RON FOB Singapore Swap Balance-of-Month Gasoline 92 RON FOB Singapore Swap Balance-of-Month Gasoline 95 RON FOB Singapore Swap
      Final Settlement Price Cash settlement using arithmetic average of Platts' daily spot assessments in the contract month, rounded to three decimal places. Cash settlement using the arithmetic average of the remaining assessments of Platts' daily spot assessments in the Contract Month (inclusive of the current Business Day), rounded to three decimal places.


      Product Petrochemical Swaps
      Contract SGX ICIS LLDPE CFR China Swap [deleted] SGX ICIS PP Flat Yarn (Raffia) CFR China Index Swap [deleted]
      Final Settlement Price Cash settlement using the arithmetic average of all ICIS spot price assessments in the contract month for the relevant underlying product, rounded to 2 decimal places.


      Product Dated Brent
      Contract Dated Brent Swap
      Final Settlement Price Cash settlement using arithmetic average of Platts daily spot assessments in the contract month, rounded to three decimal places.


      Product 0.5% Sulphur Fuel Oil Singapore
      Contract SGX Platts Marine Fuel 0.5% FOB Singapore Swap SGX Argus LSFO 0.5%S Singapore Bunker Swap
      Final Settlement Price Arithmetic average of Platts' spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places. Arithmetic average of Argus' spot assessments in the Contract Month for the relevant underlying product, rounded to 3 decimal places.

      Iron Ore Swap Contracts

      Products Iron Ore Swap
      Contract SGX TSI Iron Ore CFR China (62% Fe Fines) Swap SGX MB Iron Ore CFR China (58% FE Fines) Swap SGX TSI Iron Ore CFR China (58% FE Fines) Swap SGX MB Iron Ore CFR China (65% Fe Fines) Swap SGX Platts Iron Ore CFR China (Lump Premium) Swap
      Final Settlement Price Cash settlement using the arithmetic average of all The Steel Index (TSI) Iron Ore Fines 62% FE CFR China reference prices in the expiring month, rounded to 2 decimal places. Cash settlement using the arithmetic average of all the aggregate daily values of MBIOI — 58% FE Fines, CFR Qingdao Index and MBIOI — 58% Premium FE Fines, CFR Qingdao Index reference prices, as published by Metal Bulletin, in the expiring contract month, rounded to 2 decimal places. Cash settlement using the arithmetic average of all The Steel Index Iron Ore Fines 58% Fe (Low Alumina) — CFR Qingdao Port Index reference prices in the expiring contract month, rounded to 2 decimal places. Cash settlement using the arithmetic average of all the MBIOI 65% Fe Brazilian Fines, CFR Qingdao Index reference prices in the expiring contract month, rounded to 2 decimal places. Cash settlement using the arithmetic average of all Platts IO Spot Lump Premium 62.5% CFR China Index reference prices in the expiring contract month, rounded to 4 decimal places.


      Product Iron Ore Option
      UnderlyingContract Iron Ore Swap
      Option Exercise and Settlement European Style: An option will be exercised automatically at expiry only if it is in-the-money.
      Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying Iron Ore Swap minus the strike price, multiplied by the contract size.
      Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying Iron Ore Swap, multiplied by the contract size.

      Freight Forward Contracts: Tanker Voyage Routes

      Product TD3 TC4 TC 5
      Contract TD3 Forward Freight Agreement- ME Gulf-Japan (Ras Tanura - Chiba), 260,000 mt TC4 Forward Freight Agreement- Singapore-Japan (Singapore - Chiba), 30,000 mt TC5 Forward Freight Agreement- Middle East-Japan (Ras Tanura - Yokohama), 50,000 mt
      Final Settlement Price Arithmetic average of Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places Arithmetic average of Platts' daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places.

      Freight Forward Contracts: Dry Trip Timecharter Routes

      Product P2A P3A
      Contract Panamax Route P2A Forward Freight Agreement Skaw/Gibraltar — Far East, re-delivery Taiwan/Japan range. 60/65 days Panamax Route P3A Forward Freight Agreement Trans Pacific round either via Australia or Pacific, delivery and re-delivery Japan/South Korea range. 35/50 days
      Final Settlement Price Arithmetic average of last 7 Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 1 decimal place


      Product P2E
      Contract Panamax Route P2E Forward Freight Agreement Skaw/Gibraltar — Far East. Entire Month Average
      Final Settlement Price Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places

      Freight Forward Contracts: Dry Voyage Routes

      Product C3 C4 [deleted]
      Contract Capesize Route C3 Forward Freight Agreement Tubarao/Beilun and Baoshan. 150,000mt Capesize Route C4 Forward Freight Agreement Richards Bay-Rotterdam. 150,000mt [deleted]
      Final Settlement Price Arithmetic average of last 7 Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places


      Product C5 C7
      Contract Capesize Route C5 Forward Freight Agreement W Australia — Qingdao. 160,000mt Capesize Route C7 Forward Freight Agreement Bolivar-Rotterdam. 150,000mt
      Final Settlement Price Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 4 decimal places

      Freight Forward Contracts: Dry Timecharter Basket Routes

      Product 4CTC 5CTC 4PTC 5PTC 6STC 10STC HTC
      Contract Capesize Time Charter Basket (4 routes) Capesize Time Charter Basket (5 routes) Panamax Time Charter Basket (4 routes) Panamax Time Charter Basket (5 routes) Supramax Time Charter Basket (6 routes) Supramax Time Charter Basket (10 routes) Handysize Time Charter Basket Average 6 Routes
      Final Settlement Price Arithmetic average of all Baltic's daily spot assessments in the Contract Month for the relevant underlying product, rounded to 1 decimal place


      Product Capesize Option (4 routes) Capesize Option (5 routes) Panamax Option (4 routes) Panamax Option (5 routes) Supramax Option (6 routes) Supramax Option (10 routes) Handysize Option
      Underlying Contract Capesize Time Charter Basket (4 routes) Capesize Time Charter Basket (5 routes) Panamax Time Charter Basket (4 routes) Panamax Time Charter Basket (5 routes) Supramax Time Charter Basket (6 routes) Supramax Time Charter Basket (10 routes) Handysize Time Charter Basket Average 6 Routes
      Option Exercise and Settlement European Style: An option will be exercised automatically at expiry only if it is in-the-money.
      Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying FFA minus the strike price, multiplied by the contract size.
      Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying FFA, multiplied by the contract size.


      Container Swap Contracts

      Product Container Swap
      Contract Shanghai-Europe Route Container Swap Shanghai-Mediterranean Container Swap Shanghai-US West Coast Container Swap Shanghai-US East Coast Container Swap
      Final Settlement Price Cash settlement using the arithmetic average of all Shanghai Shipping Exchange's Shanghai Containerized Freight Index (SCFI) weekly spot assessments for the contract month, rounded to 2 decimal places

      Coal Swap Contracts

      Product Coal Swap
      Contract [deleted] SGX IHS McCloskey Indonesian 4200kc GAR FOB Thermal Coal Swaps [deleted] SGX TSI CFR China Premium JM25 Coking Coal Swap SGX TSI FOB Australia Premium Coking Coal Swap [deleted] SGX API 5 FOB Newcastle Coal Swap
      Final Settlement Price [deleted] Cash settlement using the arithmetic average of all publications of the IHS McCloskey Indonesian (4200kc GAR) FOB Marker reference prices in the expiring contract month, rounded to 2 decimal places. [deleted] Cash settlement using the arithmetic average of all publications of the relevant index published by TSI in the expiring contract month, rounded to 2 decimal places. Cash settlement using the arithmetic average of all publications of the relevant index published by TSI in the expiring contract month, rounded to 2 decimal places. [deleted] Cash settlement using the arithmetic average of all publications of the API 5 index published in the Argus/McCloskey Coal Price Index Report in the expiring contract month, rounded to 2 decimal places.

      Product Coal Option
      Underlying Contract Coal Swap
      Option Exercise and Settlement European Style: An option will be exercised automatically at expiry only if it is in-the-money.
      Cash Settled: Upon exercise, a call option will have a value equal to final settlement price of the underlying contract minus the strike price, multiplied by the contract size. Upon exercise, a put option will have a value equal to the strike price minus the final settlement price of the underlying contract, multiplied by the contract size.

      Steel Swap Contracts

      Product Steel Swap Contracts
      Contract SGX Hot-Rolled Coil Steel CFR ASEAN Swap
      Final Settlement Price Cash settlement using the arithmetic average of all The Steel Index (TSI) Hot- Rolled Coil (HRC) — ASEAN Imports reference prices in the expiring month, rounded to two decimal places.

      [deleted]

      [deleted] [deleted] [deleted] [deleted]
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      [deleted] [deleted] [deleted] [deleted]

      Added on 27 March 2006 and amended on 1 September 2006, 1 March 2007,1 August 2007, 28 November 2007, 5 May 2008, 17 April 2009, 31 May 2010, 3 November 2010, 28 February 2011, 5 December 2011, 1 February 2012, 1 March 2012, 10 September 2012, 26 November 2012, 21 October 2013, 17 February 2014, 4 August 2014, 2 December 2014, 19 January 2015, 9 March 2015, 31 August 2015, 5 October 2015, 7 December 2015, 25 January 2016, 31 October 2016, 27 March 2017, 22 May 2017, 17 July 2017, 18 September 2017, 18 September 2017, 2 January 2018, 9 April 2018, 21 May 2018, 23 July 2018, 3 December 2018, 29 July 2019, 21 October 2019 and 18 November 2019.

    • Appendix 2 — Contracts of Other Relevant Markets Accepted by the Clearing House

      Subject to any conditions or limitations set forth in this Rules, the Clearing House shall clear the following Contracts:

      1. Designated Futures Contracts pursuant to the Mutual Offset System with the Chicago Mercantile Exchange:
      a. SGX Three (3) Month Eurodollar Futures Contract
      b. [Deleted]
      c. SGX Nikkei Average Stock Index Futures Contract
      d. USD SGX Nikkei Average Stock Index Futures Contract
      e. [Deleted]

      Added on 1 October 2009 and amended on 22 April 2010, 19 July 2010, 5 August 2011, 28 March 2016, 19 September 2016 and 4 June 2018.