Whole Section

  • 18.4 Rights and Obligations of Purchasers and Writers

    • 18.4.1

      Subject to the Regulations and in accordance with the Rules and Directives:—

      (1) Call Option

      The Purchaser of a Call Option has the right, beginning 1 Market Day after the Option is registered and expiring on the Expiration Date, to purchase the Standard Quantity of the underlying securities represented by such Option at the Exercise Price from such person as the OCC may from time to time designate. The Writer of a registered Call Option is obligated, upon the allocation to him of an Exercise Notice by the OCC, to sell and deliver the Standard Quantity of the underlying securities represented by such Option to such person as the OCC may from time to time designate.
      (2) Put Option

      The Purchaser of a Put Option has the right, beginning 1 Market Day after the Option is registered and expiring on the Expiration Date, to sell and deliver the Standard Quantity of the underlying securities represented by such Option at the Exercise Price to such person as the OCC may from time to time designate. The Writer of a registered Put Option is obligated, upon the allocation to him of an Exercise Notice by the OCC, to purchase the Standard Quantity of the underlying securities represented by such Option from such person as the OCC may from time to time designate.
    • 18.4.2 Position Limits

      No person shall exceed the position limits prescribed by SGX-ST for outstanding positions in Options. Outstanding positions in Options in excess of the applicable position limits shall be liable to be closed off in accordance with Rule 18.5.6.