Whole Section

  • 5.7 Precedence of Customer Orders

    • 5.7.1

      Neither a Trading Member nor a Trading Representative shall deal in securities or futures contracts for its own account or for a Prescribed Person's account if the Trading Representative has an unexecuted order on the same terms from a customer. However, this Rule 5.7 does not apply if:

      (a) the Trading Member or the Trading Representative does not have access to customer's order flow information while executing for its own account or for the Prescribed Person's account;
      (b) the customer has prescribed that the order be executed under specified conditions and the Trading Member or Trading Representative is unable to execute the customer's order by reason of those conditions; or
      (c) the transaction is entered into in circumstances prescribed by SGX-ST.

      Refer to Practice Note 5.7.

      Added on 3 June 20193 June 2019.

    • 5.7.2

      In this Rule 5.7:

      (a) "Prescribed Person" means:
      (i) the Trading Representative's Trading Member;
      (ii) a Director of the Trading Member;
      (iii) an employee, Trading Representative or agent of the Trading Member;
      (iv) a person, a group of persons, a Corporation or a group of Corporations, or family trusts, whom the Trading Member, or any Director, Officer, Trading Representative, employee or agent of the Trading Member is associated with or connected to.
      (b) "own account" means an account in which the Trading Member or the Trading Representative has a beneficial interest; and
      (c) a reference to a person associated with another person shall have the meaning set out in section 3 of the Securities and Futures Act.

      Refer to Practice Note 5.7.

      Added on 3 June 20193 June 2019.