Rulebooks: Contents

Rulebooks
Mainboard Rules
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
Chapter 1 Application of Rules
Chapter 2 Clearing Membership
Chapter 3 Committees
Chapter 4 Enforcement of Rules
Chapter 5 Arbitration
Chapter 6 Delivery and Related Matters
Chapter 7 Clearing and Margins
Chapter 7A Suspension and Default
Chapter 7B Payments
Chapter 8 Mutual Offset System
Chapter 9 Definitions and Interpretation
Chapter 10 Transitional Provisions
Directives
Practice Notes
Appendices
Schedules
SIAC DT Arbitration Rules
SIAC DC Arbitration Rules
Archive
Rule Amendments

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  • 4.15 Clearing Member's Indemnity

    Amended on 15 September 2017.

    • 4.15.1

      Each Clearing Member indemnifies each of the Clearing House, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.01.8, and their respective directors, officers, employees, representatives and agents ("Indemnified Persons") against any loss or liability reasonably incurred or suffered by an Indemnified Person where such loss or liability arose out of or in connection with:—

      4.15.1.1 any breach by the Clearing Member of its obligations under this Rules; or
      4.15.1.2 any wilful, unlawful, reckless or negligent act or omission by the Clearing Member.

      Amended on 27 March 2006, 26 April 2013, 15 September 2017 and 3 June 2019.

    • 4.15.2

      Without prejudice to the generality of Rule 4.15.1, in the event that any legal, arbitration or other proceedings are brought to impose any liability on all or any of the Indemnified Persons for an alleged failure on the part of any Indemnified Person to prevent or to require action by a Clearing Member or any of its directors, officers, employees, representatives or agents, the Clearing Member shall reimburse the relevant Indemnified Persons for:—

      4.15.2.1 all expenses and legal fees incurred by or on behalf of the Indemnified Person in connection with such proceedings;
      4.15.2.2 any payment made by or on behalf of the Indemnified Person with the approval of the Clearing Member in connection with any settlement of such proceedings; and
      4.15.2.3 any payment made by or on behalf of the Indemnified Person as a result of any order, award or judgment made in such proceedings.

      The Clearing Member shall render such co-operation as the Indemnified Person reasonably requires in respect of such proceedings including without limitation the production of any document or records.

      Added on 26 April 2013 and amended on 15 September 2017.

    • 4.15.3

      Without prejudice to Rule 4.15.2, the Clearing Member shall pay to an Indemnified Person, if the Indemnified Person so requires, the costs incurred by or on behalf of the Indemnified Person of producing or obtaining, pursuant to a court order or other legal process, records relating to the business or affairs of a Clearing Member or any of its directors, officers, representatives, employees or agents, regardless of the party requiring such production or obtainment.

      Added on 26 April 2013 and amended on 15 September 2017.