Rulebooks: Contents

Mainboard Rules
Catalist Rules
SGX-ST Rules
Chapter 1 General
Chapter 2 Admission and Registration of Trading Members, Chief Executive Officers and Trading Representatives
2.21 Action against Defaulters
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
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
Rule Amendments

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  • 2.21 Action against Defaulters

    • 2.21.1

      SGX-ST may declare a Trading Member to be a defaulter if, in its opinion, the Trading Member:

      (a) has failed, is unable or is unwilling, to fulfil its obligations to SGX-ST or its customers; or
      (b) is apparently insolvent, is or is presumed or deemed insolvent or unable to pay its debts.

      Added on 3 June 2019.

    • 2.21.2

      A Trading Member that commits an act that may result in it being declared a defaulter under Rule 2.21.1 must inform SGX-ST immediately. A Trading Member against whom any such act is committed must also inform SGX-ST immediately.

      Added on 3 June 2019.

    • 2.21.3

      A Trading Member's access to organised markets established or operated by SGX-ST will cease pursuant to Rule 2.20.1 if it is declared a defaulter. Such access may be reinstated by SGX-ST in its absolute discretion.

      Added on 3 June 2019.

    • 2.21.4

      SGX-ST will notify all Trading Members of the declaration of default and the reinstatement (if applicable).

      Added on 3 June 2019.

    • 2.21.5

      SGX-ST may allow an open transaction with a defaulter to be closed as SGX-ST directs.

      Added on 3 June 2019.

    • 2.21.6

      Any action taken under this Rule 2.21 is in addition to any other action that SGX-ST is entitled to take against the Trading Member.

      Added on 3 June 2019.