Whole Section

  • 11.1 Cancellation of Contracts

    • 11.1.1

      A contract made on SGX-ST can only be cancelled in accordance with this Rule 11. A contract will not be cancelled merely because of the occurrence of one or more of the following circumstances:

      (a) delivery fails;
      (b) payment is not made on delivery; or
      (c) the share registrar refuses to register a transfer.

      Added on 3 June 20193 June 2019.

    • 11.1.2

      SGX-ST may cancel a contract in any of the following circumstances:

      (a) if the contract arises from an Error Trade (as defined in Rule 11.2.1) and:
      (i) the Trading Members to the contract agree to the cancellation; or
      (ii) SGX-ST is satisfied that the contract should be cancelled;
      (b) the contract arises from a Trade at Close and subsequent to the trade, SGX-ST:
      (i) invalidates the Closing Auction Price on which the trade is based; or
      (ii) determines an alternate closing price for the security;
      (c) if there is prima facie evidence of fraud or wilful misrepresentation in relation to the contract; or
      (d) in SGX-ST's opinion, it is desirable to cancel the contract to protect the financial integrity, reputation or interests of the markets established or operated by SGX-ST.

      Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.

    • 11.1.3

      SGX-ST may impose any conditions it thinks appropriate for or in relation to the cancellation of a contract.

      Added on 3 June 20193 June 2019.

    • 11.1.4

      SGX-ST may reprimand or impose a fine not exceeding S$2,000 on a Trading Representative and/or the Trading Member who caused a contract to be cancelled under Rule 11.1.2.

      Added on 3 June 20193 June 2019.

    • 11.1.5

      An action under this Rule is in addition to other actions which SGX-ST is entitled to take against the Trading Representative or Trading Member.

      Added on 3 June 20193 June 2019.