Versions

 

5.7.1

A General Clearing Member shall immediately notify CDP if the General Clearing Member's exposure to a single security (including in respect of any Exchange Trade of any Trading Member qualified by the General Clearing Member) exceeds:—

(1) in the case where the security is quoted on SGX-ST or any recognised group A securities exchange specified in the SFR (Financial and Margin Requirements), 300% of its average aggregate resources;
(2) in all where the security is quoted other than as specified in Rule 5.7.1(1), 100% of its average aggregate resources;
(3) in the case where the security is approved for quotation on SGX-ST or any recognised group A securities exchange but has not, as yet, been so quoted:—
(a) 100% of the average aggregate resources of the General Clearing Member if its aggregate resources is less than $75 million; or
(b) 150% of the average aggregate resources of the General Clearing Member if its aggregate resources is $75 million or more,
provided that the exposure under Rule 5.7.1(3) together with the exposure, if any, to securities already quoted, shall not exceed the limit specified in Rule 5.7.1(1); and
(4) 10% of its average aggregate resources if the security is unquoted, but shall not include any security issued by:—
(a) any subsidiary of the General Clearing Member which is established solely for the purpose of providing research, nominee, custodian or trustee services; or
(b) any other company which CDP may approve.

Amended on 1 July 20081 July 2008.