Rulebooks: Contents

Rulebooks
Mainboard Rules
Catalist Rules
SGX-ST Rules
Chapter 1 General
Chapter 2 Admission and Registration of Trading Members, Chief Executive Officers and Trading Representatives
Chapter 3 Capital and Financial Requirements
Chapter 4 Operational Requirements
Chapter 5 Trading Practices and Conduct
Chapter 6 Designated Market-Makers
Chapter 7 Listing and Quotation
Chapter 8 Trading
Chapter 9 Settlement
Chapter 10 Requirements on Specific Securities and Futures Contracts
Chapter 11 Cancellation of Contracts and Trades
Chapter 12 Supervision and Enforcement
Chapter 13 Definitions and Interpretation
Directives
Regulatory Notices
Practice Notes
Schedule A
CDP Clearing Rules
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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  • 2.2 Application Procedures

    • 2.2.1

      To become a Trading Member, an applicant must apply to SGX-ST in the form and manner that SGX-ST prescribes, and provide such information to SGX-ST as it may in its discretion require in connection with the application.

      Added on 3 June 2019.

    • 2.2.2

      The applicant must inform SGX-ST in writing of the Clearing Member who has agreed to qualify it (unless it is admitted as a Clearing Member). The applicant must submit to SGX-ST the agreement documenting the qualification of the applicant by the Clearing Member.

      Added on 3 June 2019.

    • 2.2.3

      SGX-ST may, in its absolute discretion, approve or reject an application to be a Trading Member, having due regard to, among other things, the appropriateness, financial condition, and fitness and propriety of the applicant, its substantial shareholders, Chief Executive Officer and Directors.

      Added on 3 June 2019.

    • 2.2.4

      Without derogating from Rule 2.2.3, the factors that SGX-ST may consider when approving an application to be a Trading Member include but are not limited to the following:

      (a) whether the applicant or its substantial shareholders, is in the course of being wound up, or a resolution to do so is passed by shareholders, or a court order is made, to wind it up, whether in or out of Singapore;
      (b) whether execution against the applicant or its substantial shareholders, in respect of a judgment debt has been returned unsatisfied in whole or in part, whether in or out of Singapore;
      (c) whether the applicant or its substantial shareholders, has entered into an arrangement or composition with its creditors that is still in operation, whether in or out of Singapore;
      (d) whether 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 or its substantial shareholders;
      (e) whether SGX-ST is not satisfied with the financial standing of the applicant or its substantial shareholders;
      (f) whether SGX-ST is not satisfied with the manner in which the applicant's business is to be conducted;
      (g) whether the applicant, or any of its substantial shareholders, Chief Executive Officer or Directors is convicted of an offence involving fraud or dishonesty or is found by a court of law to have acted fraudulently or dishonestly, whether in or out of Singapore;
      (h) whether the applicant, or any of its substantial shareholders, Chief Executive Officer or Directors has been convicted of an offence under the Securities and Futures Act or any other relevant applicable laws and regulatory requirements relating to the regulation of markets and licenced entities;
      (i) whether the applicant, or any of its substantial shareholders, Chief Executive Officer or Directors is the subject of an investigation involving an allegation of fraud or dishonesty, whether in or out of Singapore;
      (j) whether SGX-ST is not satisfied as to the educational or other qualification or experience of the Chief Executive Officer or Directors of the applicant;
      (k) whether SGX-ST is not satisfied with the applicant's record of past performance;
      (l) whether SGX-ST is not satisfied that the applicant, any of its Chief Executive Officer or Directors are able to satisfy such experience and competency requirements as SGX-ST may prescribe;
      (m) whether SGX-ST has reason to believe that the applicant or any of its Chief Executive Officer or Directors may not perform their functions efficiently, honestly and fairly;
      (n) whether SGX-ST has reason to believe that the applicant may not act in the best interests of its customers; and
      (o) whether in SGX-ST's opinion, it would be contrary to the interests of the public to admit the applicant as a Trading Member.

      Added on 3 June 2019.

    • 2.2.5

      SGX-ST may approve an application subject to such conditions or restrictions as it may in its absolute discretion deem appropriate (the "Approval Conditions") including but not limited to restrictions on the applicant's scope of business and operations. SGX-ST shall inform the applicant of the imposition or withdrawal of any Approval Condition in writing. A breach of the Approval Conditions shall constitute a breach of this Rule.

      Added on 3 June 2019.

    • 2.2.6

      SGX-ST may, in its absolute discretion at any time, by notice in writing, vary or lift any Approval Condition or impose such further Approval Conditions as it may think fit.

      Added on 3 June 2019.