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
11.4 Error Trade Cancellations
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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  • 11.4 Error Trade Cancellations

    • 11.4.1

      Notwithstanding Rules 11.3 and 11.5, SGX-ST reserves the right to review an Error Trade if SGX-ST deems it necessary for the proper maintenance of a fair and orderly market.

      Added on 3 June 2019.

    • 11.4.2

      SGX-ST may consider any relevant information, including but not limited to the following when deciding whether to cancel an Error Trade:

      (a) the difference between the price at which the trade was done and the preceding traded price of the security or futures contract;
      (b) the market liquidity in the security or futures contract at the time the trade occurred;
      (c) where the trade involves a futures contract, the trading behaviour of the underlying;
      (d) the monetary loss involved if the trade is or is not cancelled;
      (e) the difference between the time the erroneous order was entered and the time it was matched;
      (f) the number of counterparty customers involved;
      (g) whether the Force Key was used or any other error prevention alert was triggered when the erroneous order was entered into the Trading System;
      (h) the impact on the settlement process;
      (i) in the case of bonds, the rating, interest rate, coupon rate, maturity date and yield curve; and
      (j) the reason(s) given for the error.

      Refer to Regulatory Notice 11.4.2 (d).

      Refer to Regulatory Notice 11.4.2 (g).

      Added on 3 June 2019.

    • 11.4.3

      The following procedures shall apply when SGX-ST is satisfied that an Error Trade has occurred:

      (a) inform the market of the Error Trade;
      (b) inform the market of the outcome of SGX-ST's review in relation to the Error Trade (i.e. whether the Error Trade remains valid or has been cancelled); and
      (c) notify both Trading Members of the outcome of SGX-ST's decision under Rule 11.4.1 in writing.

      Added on 3 June 2019.

    • 11.4.4

      SGX-ST will not consider any request to review its decision following the notification under Rule 11.4.3(b).

      Added on 3 June 2019.