2.08.1C

Past version: Effective from 31 Dec 2013 to 21 Apr 2019

Each Bank Clearing Member incorporated outside Singapore who clears OTCF Contracts, shall at all times:—

2.08.1C.1 Net Head Office Funds Requirement
maintain net head office funds of not less than S$50,000,000 or such other amount as may be prescribed by the Clearing House from time to time, or have a parent bank which maintains paid-up ordinary share capital and unappropriated profit or loss of not less than S$50,000,000; and
2.08.1C.2 Other Requirements
comply with the accounting, reporting, book-keeping and any other financial and operational requirements prescribed by the Clearing House in relation to the Bank Clearing Member's business governed by this Rules.

Added on 31 December 201331 December 2013.