Past version: Effective from 01 Jul 2016 to 07 Oct 2018
For the purpose of Rule 11.8.1, "exposure to a single security" means:—
(1) the amount of the single security underwritten or sub-underwritten by or placed with a Trading Member, after deducting the amount which the Trading Member has sub-underwritten or placed with:—
(a) a bank licensed under the Banking Act (Cap. 19);
(b) a merchant bank approved as a financial institution under the Monetary Authority of Singapore Act (Cap. 186);
(c) a finance company licensed under the Finance Companies Act (Cap. 108);
(d) a company or society registered under the Insurance Act (Cap. 142) to carry on insurance business as an insurer;
(e) the holder of a Capital Markets Services Licence under the Securities and Futures Act to deal in securities, or trade in futures contracts or for fund management;
(f) a financial institution outside Singapore which is licensed or regulated by a financial services regulatory authority in the country in which it is domiciled, and has a long-term credit rating of investment grade; and
(g) any other person, provided that:—
(i) full payment has been received by the Trading Member for the sub-underwritten, placed, sold or allotted amount; or
(ii) the sub-underwritten, placed, sold or allotted amount can be offset against collateral received by the Trading Member under a netting agreement.
(2) the book value of the single security carried long or the market value of the single security carried short in a Trading Member's own account carried on the books of the Trading Member;
(3) for outstanding options in the single security carried in a Trading Member's own options trading account carried on the books of the Trading Member:—
(a) the book value of options bought for the account;
(b) the excess of the market value of the underlying security over the exercise price of uncovered call options written for the account; and
(c) the excess of the exercise price of put options written for the account over the market value of the underlying security;
(4) in relation to the single security carried in a customer's cash account carried on the books of the Trading Member, the contract value of the single security to the extent that such amounts have not been paid for, or the market value of the single security to the extent that such securities have not been delivered, whichever is the higher;
(5) for outstanding options in the single security carried in a customer's options trading account carried on the books of the Trading Member:—
(a) the contract value of the options bought by the customer to the extent that such amounts have not been paid for;
(b) the excess of the market value of the underlying security over the exercise price of uncovered call options written by the customer; and
(c) the excess of the exercise price of put options written by the customer over the market value of the underlying security;
(6) the net amount of the single security borrowed or lent, as the case may be, by a Trading Member;
(7) in relation to the single security bought or carried, or deposited as collateral in the margin financing accounts carried on the books of the Trading Member, the margin exposure of a Trading Member to the single security as determined in accordance with the margin financing requirements prescribed by SGX-ST;
(8) the amount of interest receivable secured by the single security;
(9) the amount of loans and advances secured by the single security; and
(10) the amount under subscription by a Trading Member for its own account carried on the books of the Trading Member in relation to the single security which is approved for quotation on SGX-ST or any recognised group A securities exchange but has not, as yet, been so quoted.
Amended on 23 January 200923 January 2009, 29 December 201429 December 2014 and 1 July 20161 July 2016.