Whole Section

  • 5.1F Notification Requirements of Clearing Members Incorporated Outside Singapore

    • 5.1F.1

      Each Clearing Member incorporated outside Singapore shall:

      (a) In the case of a General Clearing Member, immediately notify CDP if its adjusted net head office funds fall below 150% of its total risk requirement; and
      (b) In the case of a Bank Clearing Member, immediately notify CDP of any event in relation to its regulatory capital and liquidity ratios that is required to be reported to its Relevant Regulatory Authority.

      Added on 1 July 20081 July 2008 and amended on 25 August 200925 August 2009 and 22 April 201922 April 2019.

    • 5.1F.2

      CDP may from time to time prescribe other notification requirements and conditions for exemptions or exceptions therefrom on all or any of the Clearing Members.

      Added on 1 July 20081 July 2008.

    • 5.1F.3

      If CDP is notified by a Clearing Member under Rule 5.1F.1 or becomes aware (whether or not there has been any notification by the Clearing Member under Rule 5.1F.1) that such Clearing Member's adjusted net head office funds have fallen below 150% of its total risk requirement, or that a reportable event in relation to its regulatory capital and liquidity ratios has occurred, CDP may direct such Clearing Member to do one (1) or more of the following actions:—

      (1) submit (where applicable), the statements of assets and liabilities, adjusted net head office funds, cash and/or acceptable government securities deposited with CDP or SGX-DC, aggregate indebtedness, total risk requirement, and such other statements as required by CDP at such interval and for such time frame as may be determined by CDP; and
      (2) operate its business, or in the case of a Bank Clearing Member, its business governed by this Clearing Rules, in such manner and on such conditions as CDP may impose.

      Added on 1 July 20081 July 2008 and amended on 25 August 200925 August 2009 and 22 April 201922 April 2019.