Rulebooks: Contents

Mainboard Rules
Catalist Rules
SGX-ST Rules
CDP Clearing Rules
Rule 1 — Application and Definitions
Rule 2 — Administration
Rule 3 — Membership
Rule 4 — Appointment of Chief Executive Officers and Directors
Rule 5 — Financial/Capital Requirements
Rule 5A — Position Accounts
Rule 6 — Clearing and Settlement between Clearing Members and CDP
Rule 6A — Margin Requirements
Rule 6B — Collateral
Rule 6C — Payments
Rule 7 — Clearing Fund
Rule 8 — Default Rules
Rule 9 — Suspension or Restriction of Clearing
Rule 10 — Liabilities
Rule 11 — Supervisory Rules
Rule 12 — Foreign Market Links
Rule 13 — General
Rule 14 — Transitional Provisions
Regulatory Notices to CDP Clearing Rules
Practice Notes
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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  • 5.1G Qualifying Letter of Credit

    • 5.1G.1

      For the purpose of Rules 5.1D and 5.1E, a Clearing Member may include one (1) or more Qualifying Letter(s) of Credit deposited with CDP or SGX-DC in its calculation of aggregate resources subject to the total amount payable under the Qualifying Letter(s) of Credit or 50% of its total risk requirement, whichever is lower. In the case of a Clearing Member admitted as a clearing member of CDP and SGX-DC, and which has deposited such Qualifying Letter(s) of Credit with SGX-DC, pursuant to the corresponding provision in the SGX-DC Clearing Rules, it need not deposit another Qualifying Letter(s) of Credit with CDP.

      Amended on 1 July 2008, 25 August 2009 and 29 December 2014.

    • 5.1G.2

      For the purpose of Rule 5.1G.1, a qualifying letter of credit is a legally enforceable and irrevocable letter of credit that:—

      (1) is made in favour of CDP;
      (2) is issued by a bank approved by, and in a form acceptable to CDP; and
      (3) does not include any letters of credit provided by the Clearing Member to satisfy any other requirement imposed by CDP.

      Amended on 1 July 2008.

    • 5.1G.3

      CDP reserves the right to call on any of the Qualifying Letter of Credit furnished pursuant to this Clearing Rules and apply the proceeds thereof in respect of the Clearing Member's default to CDP. In the case of a Clearing Member admitted as a clearing member of CDP and SGX-DC, CDP shall have the discretion to apportion in any manner, the use of the proceeds between CDP and SGX-DC. In deciding on the apportionment, CDP may, in consultation with SGX-DC, take into account factors, including but not limited to, the amount owed by the Clearing Member to CDP and SGX-DC respectively.

      Amended on 1 July 2008 and 29 December 2014.