To be eligible for admission as a Trading Member, an applicant must:—
(1) unless otherwise exempted, procure and maintain the requisite licence(s) from the Relevant Regulatory Authority, to engage in regulated activities, including where appropriate trading in futures contracts, as follows:
(a) where it is a Corporation carrying on business in Singapore, a capital markets services licence; or
(b) where it is a Corporation not carrying on business in Singapore and not incorporated in Singapore, and it or its employees and agents does not engage in regulated activities in Singapore, a licence from a Relevant Regulatory Authority in the country where it is carrying on business. If SGX-ST is of the view that the regulatory requirements arising from the licence are not comparable to those contemplated under the Act and these Rules, it shall have the discretion to prescribe additional requirements;
(2) be qualified by a Clearing Member (unless it is admitted as a Clearing Member);
(3) satisfy the capital and financial requirements SGX-ST prescribes;
(4) upon admission, appoint at least 1 Approved Executive Director; and
(5) have facilities and staff adequate for expeditious and orderly trading, operations and activities.