Whole Section

  • 2. Alternative prices

    • 2.1.

      The table below sets out the alternative prices that SGX-ST may consider in establishing the Reference Price to determine the no-cancellation range.

      Instrument Alternative prices that may be adopted as the Reference Price
      Extended settlement contracts
      •    The previous closing price.
      •    The price of the last good trade in the underlying stock.
      American depository receipts ("ADR")
      •    The previous closing price of the underlying stock in home market.
      •    The previous closing price of the ADR in the US market.
      Exchange traded funds
      •    The previous closing price as determined in accordance with Rule 8.3.
      •    The average of the last quoted bid price and the last quoted offer price for the exchange traded fund immediately preceding the error trade. The selection will not include the quotes provided by the Designated Market-Maker who is involved in the error trade that is under review.
      •    The indicative net asset value.
      Exchange traded notes
      •    The average of the last quoted bid and the last quoted offer price for the exchange traded note immediately preceding the error trade. The selection will not include the quotes provided by the Designated Market-Maker who is involved in the error trade that is under review.
      •    The price of other debt papers with a similar credit rating.
      All other securities (excluding bonds and structured warrants)
      •    The previous closing price.
      •    The average of the last quoted bid price and the last quoted offer price for the security immediately preceding the error trade. The selection will not include the quotes provided by the parties who are involved in the error trade that is under review.
      •    A price derived from a pricing model established by SGX-ST. For example, in the case of a share consolidation, SGX-ST may use the last traded price prior to the effective date of the consolidation, adjusted for the consolidation ratio.

      Added on 3 June 20193 June 2019.