Rulebooks: Contents

Rulebooks
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Catalist Rules
SGX-ST Rules
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
SGX-ST Rules
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  • 17.3 Collateral

    • 17.3.1A

      Where a Trading Member lends Specified Products to any person, it must obtain collateral in accordance with this Rule 17.3.

      Added on 27 January 2012.

      Amended on 18 September 2012 and 8 October 2018.

    • 17.3.1

      A Trading Member must obtain collateral from a borrower of Specified Products by the close of the Market Day before delivering the loaned Specified Products to the borrower.

      Amended on 8 October 2018.

    • 17.3.2

      The collateral must be in the form as specified in Regulation 45(9) of the Securities and Futures (Licensing & Conduct of Business) Regulations.

      Amended on 23 January 2009 and 27 January 2012.

    • 17.3.3

      The value of collateral obtained from the borrower must be at least 105% of the market value of the loaned Specified Products throughout the period that the Specified Products are lent.

      Amended on 8 October 2018.

    • 17.3.4

      If the value of collateral falls below 105% of the market value of the loaned Specified Products, a Trading Member must, by the next Market Day, notify the borrower to provide additional collateral to bring the value of collateral to at least 105% of the market value of the loaned Specified Products by the close of the second Market Day from the date of notice. A Trading Member must not allow any new borrowings until the value of the collateral is restored to at least 105% of the market value of the loaned Specified Products.

      Amended on 8 October 2018.

    • 17.3.5

      A Trading Member may, without notice to the borrower, realise the collateral and apply the proceeds to buy back Specified Products to close off the loan position if:

      (1) the borrower does not provide the additional collateral by the close of the second Market Day from the date of notice; or
      (2) the collateral value falls below 100% of the market value of the loaned Specified Products, whichever occurs earlier.

      Amended on 8 October 2018.

    • 17.3.6

      A Trading Member may allow a borrower to withdraw collateral, provided that the remaining collateral value is at least 105% of the market value of the loaned Specified Products after the withdrawal.

      Amended on 8 October 2018.

    • 17.3.7

      SGX-ST may vary the percentage in Rules 17.3.3, 17.3.4, 17.3.5 and 17.3.6 or apply discounts to the value of collateral.

    • 17.3.8

      A Trading Member may require additional collateral from the borrower or apply discounts to the value of the collateral.