7.15.1
Past version: Effective from 25 May 2022 to 06 Aug 2012
Upon being granted eligibility by the Clearing House to clear a relevant Contract Class, each Clearing Member wishing to clear that Contract Class shall deposit with the Clearing House as security for its obligations to the Clearing House ("Security Deposit") the following amounts:
A. for clearing Contracts which are listed for trading on the Exchange or any Relevant Market and/or OTC Contracts, the higher of:
a. S$1,000,000 or such lower amount as prescribed by the Clearing House time to time in its discretion; or
b. 3.0%, or such lower amount as prescribed by the Clearing House from time to time in its discretion, of the daily average of the risk margin of such Clearing Member during the preceding three month period;
B. for clearing OTCF Contracts, the higher of:
a. US$5 million; or
b. 3.0%, or such lower amount as prescribed by the Clearing House from time to time in its discretion, the daily average of the risk margin of such Clearing Member for such OTCF Contracts during the preceding three month period;
or
C. for clearing (i) Contracts which are listed for trading on the Exchange or any Relevant Market and/or OTC Contracts, and (ii) OTCF Contracts, the sum of the amounts set out in Rule 7.15.1A AND 7.15.1B.
Amended on 10 May 201010 May 2010 and 3 November 20103 November 2010.