If an error trade occurs:—
(1) the Trading Member who made the error must immediately contact the counterparty Trading Member and seek its agreement to cancel the trade;
(2) both Trading Members must immediately take all necessary actions to minimise any potential market impact caused by the error trade; and
(3) both Trading Members must inform SGX-ST of the error as follows:
(a) by telephone within thirty (30) minutes from the time the error trade occurred; and
(b) in writing on the same day that the error trade occurred. Written notification must include details of the security or futures contract name, price, volume, trade number and time of the error trade. The Trading Member who made the error must also provide reasons for the error.