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
3.15 Other 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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  • 3.15 Other Financial Requirements

    • 3.15.1

      Rules 3.15.2 to 3.15.5 shall not apply to a Remote Trading Member.

      Added on 3 June 2019.

    • 3.15.2

      A Trading Member that is incorporated in Singapore shall not reduce its paid-up ordinary share capital or paid-up irredeemable and non-cumulative preference share capital without the prior written approval of SGX-ST.

      Added on 3 June 2019.

    • 3.15.3

      Preference Shares

      (a) A Trading Member that is incorporated in Singapore shall notify SGX-ST prior to the issue of any preference share.
      (b) A Trading Member that is incorporated in Singapore shall not repay the principal of any preference share (other than any paid-up irredeemable and non-cumulative preference share capital) that is computed as part of its financial resources, through repurchase or redemption:
      (i) unless the Trading Member notifies SGX-ST within such time before the proposed date of repurchase or redemption as prescribed by the SFR (Financial and Margin Requirements);
      (ii) if at the date of repurchase or redemption:
      (I) its financial resources is less than 150% of its total risk requirement; or
      (II) its aggregate indebtedness exceeds 600% of its aggregate resources;
      (iii) if such repurchase or redemption will cause an event in Rule 3.15.3(b)(ii) above to occur; or
      (iv) if SGX-ST has prohibited in writing such a repurchase or redemption.

      Added on 3 June 2019.

    • 3.15.4

      Qualifying Subordinated Loan

      (a) A Trading Member shall obtain the prior approval of SGX-ST if it enters a subordinated loan agreement in a format other than the format prescribed by SGX-ST from time to time.
      (b) Where a Trading Member draws down a qualifying subordinated loan, the Trading Member shall notify SGX-ST no later than the date of draw down of the qualifying subordinated loan.
      (c) A Trading Member shall not repay, whether in part or in full, any subordinated loan principal before the maturity date without the prior approval of SGX-ST.
      (d) A Trading Member shall not repay, whether in part or in full, any subordinated loan principal that has matured:
      (i) unless the Trading Member notifies SGX-ST at least one Market Day before the date of repayment;
      (ii) if its financial resources is less than 150% of its total risk requirement;
      (iii) if its aggregate indebtedness exceeds 600% of its aggregate resources;
      (iv) if such a repayment will cause an event in Rule 3.15.4(d)(ii) or (iii) to occur; or
      (v) if SGX-ST has prohibited in writing such a repayment.

      Added on 3 June 2019.

    • 3.15.5

      A Trading Member shall not, without the prior written approval of SGX-ST, make any unsecured loan or advance, pay any dividend or director's fees or increase any director's remuneration if:

      (a) in the case where the Trading Member is incorporated in Singapore:
      (i) its base capital is less than the base capital requirement as prescribed in Rules 3.2 and 3.5;
      (ii) its financial resources is less than 150% of its total risk requirement;
      (iii) its aggregate indebtedness exceeds 600% of its aggregate resources; or
      (iv) such a loan, advance, payment or increase will cause an event in Rule 3.15.5(a)(i), (ii) or (iii) to occur; or
      (b) in the case where the Trading Member is incorporated outside Singapore:
      (i) its net head office funds is less than the base capital requirement as prescribed in Rules 3.2 and 3.5;
      (ii) its adjusted net head office funds is less than 150% of its total risk requirement;
      (iii) its aggregate indebtedness exceeds 600% of its aggregate resources; or
      (iv) such a loan, advance, payment or increase will cause an event in Rule 3.15.5(b)(i), or (iii) to occur.

      Added on 3 June 2019.

    • 3.15.6

      A Remote Trading Member shall notify SGX-ST immediately of any actions taken relating to:

      (a) any reduction in paid-up ordinary share capital;
      (b) any issue of any preference share;
      (c) the entry into a subordinated loan agreement in a format other than the format prescribed by SGX-ST from time to time, drawing down on a qualifying subordinated loan or repayment whether in part or in full, any subordinated loan principal before or upon maturity;
      (d) any matter that has or may have a financial or capital impact on the Remote Trading Member and is or may be required to be reported to the Relevant Regulatory Authority.

      Added on 3 June 2019.

    • 3.15.7

      A Trading Member that holds a Capital Markets Services Licence must not issue or allot partly paid shares.

      Added on 3 June 2019.