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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  • 6.5 Settlement of Securities in respect of Novated Contracts

    Amended on 10 December 2018.

    • 6.5.1

      Settlement of a Clearing Member's right on any Settlement Day to receive securities in respect of Novated Contracts (including any right to receive securities as compensation for corporate action entitlements as provided in these Clearing Rules) shall be effected and final upon CDP crediting such securities into the Clearing Member's Clearing Account.

      Amended on 3 April 2008, 1 July 2008, 23 January 2009, 26 April 2013 and 10 December 2018.

    • 6.5.1A [Rule has been deleted.]

      Deleted on 10 December 2018.

    • 6.5.1B

      On any Settlement Day, if and to the extent that the securities available to CDP are insufficient for CDP to settle its delivery obligations in respect of Novated Contracts that are due for settlement on that Settlement Day, CDP may:

      (1) defer any of those delivery obligations, in whole or in part, for settlement on the next Settlement Day; or
      (2) cash settle any of those delivery obligations, in whole or in part.

      Added on 10 December 2018.

    • 6.5.2

      (1) Settlement of a Clearing Member's obligation on any Settlement Day to deliver securities in respect of Novated Contracts (including any obligation to deliver securities as compensation for corporate action entitlements as provided in these Clearing Rules) shall be effected and final upon CDP debiting such securities from the Clearing Member's Clearing Account.

      (2) Failure by a Clearing Member to deliver securities when due shall subject the Clearing Member to Rule 6.7A.

      Amended on 3 April 2008, 23 January 2009, 20 November 2009,26 April 2013 and 10 December 2018.

    • 6.5.2A

      A Clearing Member shall ensure that the securities required to meet its delivery obligation in respect of Novated Contracts are made available in such manner and by such time as provided in the CDP Settlement Rules to enable the delivery of those securities on the Settlement Day that the obligation is due. Failure by a Clearing Member to comply with this Rule 6.5.2A shall subject the Clearing Member to Rule 6.7.

      Added on 20 November 2009 and amended on 26 April 2013 and 10 December 2018.

    • 6.5.2B [Rule has been deleted.]

      Deleted on 10 December 2018.

    • 6.5.2C [Rule has been deleted.]

      Deleted on 10 December 2018.

    • 6.5.3 [Rule has been deleted.]

      Deleted on 10 December 2018.

    • 6.5.4

      Subject to Rule 6.5.5:

      (1) A Clearing Member that is due to, but does not, deliver securities in respect of Novated Contracts is liable to compensate CDP for corporate action entitlements that accrue on those securities and that a recipient of those securities would have been entitled to receive but for the delivery failure.
      (2) A Clearing Member that is due to, but does not receive securities in respect of Novated Contracts is entitled to be compensated by CDP for corporate action entitlements that accrue on those securities and that a recipient of those securities would have been entitled to receive but for the delivery failure.

      Added on 10 December 2018.

    • 6.5.5

      Rule 6.5.4 applies only to such types of corporate action entitlements that CDP shall from time to time notify.

      Refer to Regulatory Notice 6.5.

      Added on 10 December 2018.

    • 6.5.6

      (1) Any compensation under Rule 6.5.4 shall be made in such form and value, and be due by such time, as CDP shall specify.
      (2) Where CDP requires any action by a Clearing Member to effect such compensation, the Clearing Member shall do so, and shall obtain all necessary authorisation from its Customer to enable it to do so, by such time as CDP shall specify.

      Refer to Regulatory Notice 6.5.

      Added on 10 December 2018.