Whole Section

  • 5.1A Early Warning Financial Requirements of Clearing Members Incorporated in Singapore

    • 5.1A.1

      Each General Clearing Member incorporated in Singapore shall immediately notify CDP:—

      (1) if its financial resources fall below 120% of its total risk requirement; or
      (2) if its aggregate indebtedness exceeds 600% of its aggregate resources.

      Added on 1 July 20081 July 2008 and amended on 22 April 201922 April 2019.

    • 5.1A.2

      If CDP is notified by a Clearing Member under Rule 5.1A.1(1) or becomes aware (whether or not there has been any notification by the Clearing Member under Rule 5.1A.1(1)) that such Clearing Member's financial resources have fallen below 120% of its total risk requirement, CDP may direct such Clearing Member to comply with one (1) or more of the directions prescribed under Regulation 7(3) of the SFR (Financial and Margin Requirements).

      Added on 1 July 20081 July 2008 and amended on 22 April 201922 April 2019.

    • 5.1A.3

      If CDP is notified by a Clearing Member under Rule 5.1A.1(2) or becomes aware (whether or not there has been any notification by such Clearing Member under Rule 5.1A.1(2)) that such Clearing Member's aggregate indebtedness has exceeded 600% of its aggregate resources, CDP may direct such Clearing Member to comply with one (1) or more of the directions prescribed under Regulation 17(2) of the SFR (Financial and Margin Requirements).

      Added on 1 July 20081 July 2008 and amended on 22 April 201922 April 2019.