SGX Rulebooks
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18.6.1 Trading Hours

Unless otherwise determined by SGX-ST, the trading hours for Options shall be the same as the Equity Market. SGX-ST may by notice extend or vary the trading hours for the Options Market.

18.6.2 Trading on the Trading System
(1) When transacting with or on behalf of customers, Trading Members must indicate to the customers the current best bid and ask prices as reflected in the Trading System.
(2) All Options transactions shall be cleared and settled through the OCC in accordance with its Regulations.

Amended on 3 April 20083 April 2008.

18.6.3 Minimum Bids

Unless otherwise determined by SGX-ST, minimum bids for Options trading shall be the same rate prevailing for minimum bids in the Equity Market.

18.6.4 Direct Business
(1) All Direct Business in Options must be reported to SGX-ST within 10 minutes of execution through the married trade reporting system of the Trading System.
(2) SGX-ST trading of Options of any Class shall be limited to the hours during which SGX-ST is open for trading.
(3) No Trading Member shall effect any crossing or married transaction involving an aggregate of less than 100 Options of the same Class.

Amended on 3 April 20083 April 2008.

18.6.5 Settlement of Premiums
(1) All Purchasers shall pay all Premiums due on Options purchased to their Trading Members by 12.30 p.m. on the Market Day following the Options transaction date.
(2) Premiums due to Writers on all Options written (except for Scrip-Covered Call Options) may be withheld by Trading Members and applied in set-off (whether partial or whole) against the margins required to be deposited by the Writers.
(3) All Writers of Scrip-Covered Call Options shall be entitled to receive all Premiums due on such Options from their Trading Members by 12.30 p.m. on the Market Day following the Options transaction date.

18.6.6 Failure by Customers to Pay Premium

If a customer fails to make payment of the Premiums payable to a Trading Member despite being requested to do so by the Trading Member, then the Trading Member shall be entitled to enter into a closing purchase or written transaction as the case may be, in respect of the same Option for which the Premiums were due, charging any loss arising therefrom (including commissions and other costs) to the defaulting customer.

18.6.7 Failure to Pay Premium or Deliver — Trading Member

Failure by a customer to pay the Premiums due shall not affect the Trading Member's obligations as the registered holder of the Options to the OCC under the Regulations. The Trading Member affected shall have recourse in accordance with the foregoing Rule 18.6.6.

18.6.8 Closing Transactions

All closing transactions shall be made through the same Trading Member with whom the opening purchase or opening written transaction is executed or where the outstanding Options position has been transferred to another Trading Member in accordance with Rule 18.7.7 the closing transaction shall be made through that Trading Member.