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  • Chapter 8A — Marking of Sell Orders

    • 8A.1 Definitions

      • 8A.1.1

        In this Rule:

        (a) A "Specified Capital Markets Product" means any securities or futures contract that is listed or to be listed on SGX-ST that is, or that belongs to a class of capital markets products (as defined in the Securities and Futures Act) that is, prescribed by regulations made under section 137ZM of the Securities and Futures Act.
        (b) A "Short Sell Order" means any order to sell any Specified Capital Markets Product where the person who makes the order does not, at the time of the order, have an interest in the Specified Capital Markets Product as specified under section 137ZH of the Securities and Futures Act, and "short sell" shall be construed accordingly.

        Refer to Practice Note 8A.

        Added on 11 March 2013 and amended on 1 October 2018.

    • 8A.2 [Rule has been deleted]

    • 8A.3 Marking of Sell Orders

      • 8A.3.1

        Each sell order for Specified Capital Markets Products shall be marked to indicate to SGX-ST whether it is a Short Sell Order or a normal sell order. The quantity, volume or value of the Specified Capital Markets Product in which a person intends to make or is making a Short Sell Order shall also be indicated.

        Added on 11 March 2013 and amended on 1 October 2018.

      • 8A.3.1A

        A Trading Member and its Trading Representative shall not enter a sell order in the Trading System if a customer has not indicated whether the sell order is a Short Sell Order or a normal sell order and/or has not provided the information relating to the quantity, volume or value of the Specified Capital Markets Product in which the customer intends to make or is making a Short Sell Order.

        Added on 1 October 2018.

      • 8A.3.2

        The requirement to mark sell orders as set out in this Rule shall include Direct Business reported through the married trade reporting system of the Trading System pursuant to Rule 8.7

        Added on 11 March 2013 and amended on 1 October 2018.

      • 8A.3.3

        A Trading Member shall ensure that the necessary procedures and systems are implemented to facilitate compliance with the obligations set out in this Rule.

        Refer to Practice Note 8A.

        Added on 11 March 2013 and amended on 1 October 2018.

    • 8A.4 Exemptions

      • 8A.4.1

        SGX-ST may, at its discretion, exempt any specific Specified Capital Markets Product from the requirement to mark sell orders as set out in this Rule.

        Added on 11 March 2013 and amended on 1 October 2018.

      • 8A.4.2

        SGX-ST may, at its discretion, waive the requirement to mark sell orders for specific classes of market participants.

        Refer to Practice Note 8A.

        Added on 11 March 2013 and amended on 1 October 2018.

      • 8A.4.3

        A Trading Member and its Trading Representatives shall not be required to comply with this Rule in respect of sell orders from the market participants for whom SGX-ST has waived the requirement to mark sell orders for or in such Specified Capital Markets Products as exempted by SGX-ST.

        Added on 11 March 2013 and amended on 1 October 2018.

    • 8A.5 Publication of Report of Short Sell Orders

      • 8A.5.1

        SGX-ST shall report before the start of each Market Day the aggregate volume of Short Sell Orders matched and executed for the preceding Market Day and in respect of each Specified Capital Markets Product for which marking is required.

        Added on 11 March 2013 and amended on 1 October 2018.

      • 8A.5.2

        SGX-ST may subsequently report corrections to such aggregate volume of Short Sell Orders matched and executed that have been reported pursuant to Rule 8A.5.1.

        Added on 11 March 2013.

    • 8A.6 Reporting of Erroneously Marked Sell Orders

      • 8A.6.1

        A Trading Member may submit a report of erroneously marked sell orders through such facility that is provided by SGX-ST.

        Added on 11 March 2013.

      • 8A.6.2

        A Trading Member shall ensure that the report:

        (a) adheres to the requirements for submission established by SGX-ST; and
        (b) is complete and accurate.

        Refer to Practice Note 8A.

        Added on 11 March 2013 and amended on 1 October 2018.