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Practice Note 12.17.1 — Review of Remisier's Personal Trades

Issue Date Cross Reference Enquiries
Added on
1 December 2003.
Rules 12.17.1 and 12.17.6 Please contact Member Supervision:

Facsimile No : 6538 8273
E-Mail Address: membersup@sgx.com

1 Introduction

1.1 This Practice Note sets out the need for more frequent reviews of the trading activities of Remisiers.

2 Need for More Frequent Reviews

2.1 Rule 12.17.1 requires a Trading Member to approve the personal trades of its Directors, Officers, Dealers and employees before these trades can be effected. This Rule does not require a Trading Member to approve Remisiers' personal trades. However, as a good control measure, Trading Members should conduct more frequent reviews of the trading activities of its Remisiers. This is also in line with Rule 12.17.6 which requires a Trading Member to have in place procedures to monitor the trading activities of its Remisiers, amongst other persons. The frequency of these reviews should be conducted at a level where the Trading Member is confident that its Remisiers' trading activities are above board.