SGX Rulebooks
Link copied to clipboard
Custom Print

5A.4.1

For third-party clearing arrangements, a Clearing Member may authorise an SGX-ST Trading Member it qualifies (referred to in this Rule 5A.4. as the "Authorised Trading Member") to:

(a) open and maintain Position Accounts for; or
(b) open, maintain and allocate positions to the Position Accounts of,

the SGX-ST Trading Member and/or the SGX-ST Trading Member's customers (such Position Accounts referred to in this Rule 5A.4 as the "Authorised Accounts"), in accordance with such procedures as CDP may require.

Amended on 1 July 20161 July 2016 and 10 December 201810 December 2018.

5A.4.2

Where a Clearing Member authorises an Authorised Trading Member to open and maintain Authorised Accounts under Rule 5A.4.1(a), Rules 5A.1and 5A.2 shall, with the necessary modifications, apply to an Authorised Trading Member in respect of each Authorised Account, as those provisions apply to a Clearing Member. The Clearing Member who authorises the Authorised Trading Member under Rule 5A.4.1(a) shall ensure that the Authorised Trading Member performs the obligations under Rules 5A.1 and 5A.2, as they apply to the Authorised Trading Member in respect of each Authorised Account.

Refer to Practice Note 5A.4.2, 5A.4.3.

Amended on 1 July 20161 July 2016 and 10 December 201810 December 2018.

5A.4.3

Where a Clearing Member authorises an Authorised Trading Member to open, maintain and allocate positions to the Authorised Accounts under Rule 5A.4.1(b), Rules 5A.1, 5A.2, 5A.3 and 5A.6 shall, with the necessary modifications, apply to an Authorised Trading Member in respect of each Authorised Account, as those provisions apply to a Clearing Member. The Clearing Member who authorises the Authorised Trading Member under Rule 5A.4.1(b) shall ensure that the Authorised Trading Member performs the obligations under Rules 5A.1, 5A.2, 5A.3 and 5A.6, as they apply to the Authorised Trading Member in respect of each Authorised Account.

Refer to Practice Note 5A.4.2, 5A.4.3.

Amended on 1 July 20161 July 2016 and 10 December 201810 December 2018.

5A.4.4

If a Clearing Member wishes to cease authorising an Authorised Trading Member, it shall:-

(a) give not less than 30 days' written notice (or such shorter period as CDP may from time to time deem acceptable) to CDP of its intention to cease authorising that Authorised Trading Member and the proposed date of cessation, provided always that CDP may waive such notice requirement at any time with respect to any Clearing Member;
(b) satisfy CDP that it has taken, or will take, proper steps for the orderly clearing and settlement of the Authorised Trading Member's Exchange Trades; and
(c) comply with any reasonable direction of CDP in relation to the orderly cessation of the authorization of the Authorised Trading Member.

Added on 1 July 20161 July 2016 and amended on 10 December 201810 December 2018.