Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
Rule 1 — Application and Definitions
Rule 2 — Administration
Rule 3 — Membership
Rule 4 — Appointment of Chief Executive Officers and Directors
Rule 5 — Financial/Capital Requirements
Rule 5A — Position Accounts
Rule 6 — Clearing and Settlement between Clearing Members and CDP
Rule 6A — Margin Requirements
Rule 6B — Collateral
Rule 6C — Payments
Rule 7 — Clearing Fund
Rule 8 — Default Rules
Rule 9 — Suspension or Restriction of Clearing
Rule 10 — Liabilities
Rule 11 — Supervisory Rules
Rule 12 — Foreign Market Links
Rule 13 — General
Rule 14 — Transitional Provisions
Appendices
Regulatory Notices to CDP Clearing Rules
Practice Notes
Schedules
CDP Settlement Rules
DVP Rules [Entire Rulebook has been deleted]
CDP Depository Rules
Futures Trading Rules
SGX-DC Clearing Rules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

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  • 3.2 The Application

    • 3.2.1

      To become a Clearing Member, an applicant shall apply to CDP in the form CDP prescribes.

    • 3.2.2

      CDP may, in its absolute discretion, approve or reject an application for clearing membership. CDP is not obliged to give any reasons.

    • 3.2.3

      Without derogating from Rule 3.2.2, CDP may reject an application for clearing membership if:—

      (1) the applicant does not provide CDP with information relating to the application as CDP requires;
      (1A) any information or document that is furnished by the applicant to CDP is false or misleading;
      (2) the applicant, its substantial shareholder or head office is in the course of being wound up, or a resolution to do so is passed by the shareholders, or a court order is made, to wind it up, whether in or out of Singapore;
      (3) execution against the applicant, its substantial shareholder or head office in respect of a judgment debt has been returned unsatisfied in whole or in part, whether in or out of Singapore;
      (4) the applicant, its substantial shareholder or head office has entered into an arrangement or composition with its creditors that is still in operation, whether in or out of Singapore;
      (5) a receiver, a receiver and manager, judicial manager or such other person having similar powers and duties, has been appointed, whether in or out of Singapore, in relation to any property of the applicant, its substantial shareholders or head office;
      (6) CDP is not satisfied with the financial standing of the applicant, its substantial shareholders or head office;
      (7) CDP is not satisfied with the manner in which the applicant's business is to be conducted;
      (8) the applicant, any of its officers, substantial shareholders or head office breaches any provision involving fraud or dishonesty, whether in or out of Singapore;
      (9) the applicant, any of its officers, substantial shareholders or head office has been convicted of an offence under the SFA;
      (10) the applicant, any of its officers, substantial shareholders or head office is the subject of an investigation involving an allegation of fraud or dishonesty, whether in or out of Singapore;
      (11) CDP is not satisfied as to the educational or other qualification or experience of the officers of the applicant;
      (12) CDP is not satisfied with the applicant's record of past performance;
      (13) CDP is not satisfied that the applicant, any of its officers, substantial shareholders or head office is a fit and proper person;
      (14) CDP has reason to believe that the applicant or any of its officers or employees may not perform the functions efficiently, honestly and fairly;
      (15) CDP has reason to believe that the applicant may not act in the best interests of its customers; or
      (16) In CDP's opinion, it would be contrary to the interests of the public to admit the applicant as a Clearing Member.

      Amended on 12 October 2005.