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
Chapter 3 Capital and Financial Requirements
Chapter 4 Operational Requirements
4.2 Direct Market Access and Sponsored Access
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

Back Rich text Print

You need the Flash plugin.

Download Macromedia Flash Player

  • 4.2 Direct Market Access and Sponsored Access

    • 4.2.1

      A Trading Member may authorise Direct Market Access (including Sponsored Access) for its customers in respect of organised markets established by or operated by SGX-ST or such organised markets as SGX-ST specifies, subject to such conditions and requirements as may be specified in the Rules or prescribed by SGX-ST from time to time.

      Refer to Practice Note 4.2.

      Added on 3 June 2019.

    • 4.2.2

      A Trading Member that authorises Sponsored Access for its customers must maintain a register recording the identity and address of all customers with Sponsored Access, and produce such register to SGX-ST at its request.

      Added on 3 June 2019.

    • 4.2.3

      A Trading Member that authorises Direct Market Access (including Sponsored Access) for a customer must enter into a legally binding agreement with the customer setting out the terms and conditions for such Direct Market Access. The agreement must include requirements, and the Trading Member must have measures in place, for:

      (a) the customer to meet minimum standards including standards on financial standing, credit history and criminal records, adverse records or pending court proceedings relating to prohibited market conduct;
      (b) the customer to have appropriate procedures in place to assure that all relevant persons:
      (i) are familiar with and comply with the Rules;
      (ii) have knowledge and proficiency in the use of the order management system;
      (c) the customer to be provided information concerning its access to the Trading System and applicable laws;
      (d) the customer to have security arrangements in place to ensure that unauthorised persons are denied such Direct Market Access;
      (e) the customer to assist SGX-ST promptly in any investigation into potential violations of the Rules and applicable laws, including the provision of information to SGX-ST relating to the identity and address of any person who may be responsible for the execution of an order or trade;
      (f) the customer to comply with Rules 4.1 and 4.13 (in a case where the customer is given Sponsored Access);
      (g) the customer to be permitted to delegate, and any other person to be permitted to delegate, Sponsored Access only if the delegating person is:
      (I) regulated by a recognised regulatory authority in respect of any regulated activity; or
      (II) a Trading Member of SGX-ST in which event it may only delegate Sponsored Access to its related corporations;
      for the purpose of this Rule 4.2.3(g), "recognised regulatory authority" refers to a signatory to the International Organization of Securities Commissions' Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information, and "regulated activity" shall have the same meaning as in the Securities and Futures Act;
      (h) the customer to ensure, and any other person delegating Sponsored Access to ensure, that all persons given Sponsored Access are included in the register referred to in Rule 4.2.2; and
      (i) the customer to ensure, and any other person delegating Direct Market Access to ensure, that all persons given Direct Market Access are subject to the requirements in this Rule 4.2.3.

      Added on 3 June 2019.

    • 4.2.4

      SGX-ST may require a Trading Member to provide to SGX-ST a report by an independent reviewer on the Trading Member's compliance with Rules 4.2 and 4.3.2.

      Added on 3 June 2019.