Futures Trading Rules
Regulatory Notices
Regulatory Notice 2.1.3A(4); 4.1.11 — Negotiated Large Trades
Past version: Effective from 05 Feb 2018 to 25 Mar 2018
- Up to 05 Dec 2010
- 06 Dec 2010 to 15 Dec 2010
- 16 Dec 2010 to 23 Jan 2011
- 24 Jan 2011 to 14 Feb 2011
- 15 Feb 2011 to 10 Jun 2012
- 11 Jun 2012 to 15 Jul 2012
- 16 Jul 2012 to 24 Feb 2013
- 25 Feb 2013 to 04 Aug 2013
- 05 Aug 2013 to 29 Sep 2013
- 30 Sep 2013 to 20 Oct 2013
- 21 Oct 2013 to 10 Nov 2013
- 11 Nov 2013 to 24 Nov 2013
- 25 Nov 2013 to 15 Dec 2013
- 16 Dec 2013 to 19 Jan 2014
- 20 Jan 2014 to 16 Feb 2014
- 17 Feb 2014 to 02 Apr 2014
- 03 Apr 2014 to 03 Aug 2014
- 04 Aug 2014 to 24 Aug 2014
- 25 Aug 2014 to 31 Aug 2014
- 01 Sep 2014 to 28 Sep 2014
- 29 Sep 2014 to 19 Oct 2014
- 20 Oct 2014 to 01 Dec 2014
- 02 Dec 2014 to 04 Jan 2015
- 05 Jan 2015 to 18 Jan 2015
- 19 Jan 2015 to 08 Feb 2015
- 09 Feb 2015 to 08 Mar 2015
- 09 Mar 2015 to 30 Aug 2015
- 31 Aug 2015 to 04 Oct 2015
- 05 Oct 2015 to 01 Nov 2015
- 02 Nov 2015 to 06 Dec 2015
- 07 Dec 2015 to 24 Jan 2016
- 25 Jan 2016 to 31 Jan 2016
- 01 Feb 2016 to 27 Mar 2016
- 28 Mar 2016 to 28 Mar 2016
- 29 Mar 2016 to 03 Apr 2016
- 04 Apr 2016 to 02 May 2016
- 03 May 2016 to 01 Jun 2016
- 02 Jun 2016 to 03 Jul 2016
- 04 Jul 2016 to 10 Jul 2016
- 11 Jul 2016 to 30 Oct 2016
- 31 Oct 2016 to 13 Nov 2016
- 14 Nov 2016 to 04 Dec 2016
- 05 Dec 2016 to 26 Feb 2017
- 27 Feb 2017 to 26 Mar 2017
- 27 Mar 2017 to 21 May 2017
- 22 May 2017 to 11 Jun 2017
- 12 Jun 2017 to 16 Jul 2017
- 17 Jul 2017 to 20 Aug 2017
- 21 Aug 2017 to 17 Sep 2017
- 18 Sep 2017 to 22 Oct 2017
- 23 Oct 2017 to 12 Nov 2017
- 13 Nov 2017 to 04 Feb 2018
- 05 Feb 2018 to 25 Mar 2018
- 26 Mar 2018 to 08 Apr 2018
- 09 Apr 2018 to 20 May 2018
- 21 May 2018 to 03 Jun 2018
- 04 Jun 2018 to 24 Jun 2018
- 25 Jun 2018 to 22 Jul 2018
- 23 Jul 2018 to 23 Sep 2018
- 24 Sep 2018 to 02 Dec 2018
- 03 Dec 2018 to 17 Mar 2019
- 18 Mar 2019 to 12 May 2019
- 13 May 2019 to 26 May 2019
- 27 May 2019 to 28 Jul 2019
- 29 Jul 2019 to 15 Sep 2019
- 16 Sep 2019 to 20 Oct 2019
- 21 Oct 2019 to 17 Nov 2019
- 18 Nov 2019 to 01 Dec 2019
- 02 Dec 2019 to 12 Jan 2020
- 13 Jan 2020 to 23 Feb 2020
- 24 Feb 2020 to 15 Mar 2020
- 16 Mar 2020 to 17 May 2020
- 18 May 2020 to 14 Jun 2020
- 15 Jun 2020 to 19 Jul 2020
- 20 Jul 2020 to 02 Aug 2020
- 03 Aug 2020 to 23 Aug 2020
- 24 Aug 2020 to 13 Sep 2020
- 14 Sep 2020 to 30 Sep 2020
- 01 Oct 2020 to 04 Oct 2020
- 05 Oct 2020 to 11 Oct 2020
- 12 Oct 2020 to 22 Nov 2020
- 23 Nov 2020 to 24 Jan 2021
- 25 Jan 2021 to 28 Feb 2021
- 01 Mar 2021 to 14 Mar 2021
- 15 Mar 2021 to 31 Mar 2021
- 01 Apr 2021 to 18 Apr 2021
- 19 Apr 2021 to 09 May 2021
- 10 May 2021 to 13 Jun 2021
- 14 Jun 2021 to 11 Jul 2021
- 12 Jul 2021 to 01 Aug 2021
- 02 Aug 2021 to 15 Sep 2021
- 16 Sep 2021 to 21 Nov 2021
- 22 Nov 2021 to 05 Dec 2021
- 06 Dec 2021 to 23 Jan 2022
- 24 Jan 2022 to 27 Feb 2022
- 28 Feb 2022 to 26 Jun 2022
- 27 Jun 2022 to 17 Jul 2022
- 18 Jul 2022 to 28 Jul 2022
- 29 Jul 2022 to 25 Sep 2022
- 26 Sep 2022 to 30 Oct 2022
- 31 Oct 2022 to 20 Nov 2022
- 21 Nov 2022 to 19 Feb 2023
- 20 Feb 2023 to 19 Mar 2023
- 20 Mar 2023 to 07 Jun 2023
- 08 Jun 2023 to 18 Jun 2023
- 19 Jun 2023 to 20 Aug 2023
- 21 Aug 2023 to 01 Oct 2023
- 02 Oct 2023 to 29 Feb 2024
- 01 Mar 2024 to 14 Jul 2024
- 15 Jul 2024 to 28 Jul 2024
- 29 Jul 2024 to 22 Sep 2024
- 23 Sep 2024 to 06 Oct 2024
- 07 Oct 2024 to 19 Jan 2025
- 20 Jan 2025 to 23 Feb 2025
- 24 Feb 2025 to 16 Mar 2025
- 17 Mar 2025 to 13 Apr 2025
- 14 Apr 2025 to 01 Jun 2025
- 02 Jun 2025 to 08 Jun 2025
- 09 Jun 2025 to 13 Jul 2025
- 14 Jul 2025 onwards
MINIMUM TICK SCHEDULE FOR NEGOTIATED LARGE TRADES
| Contract | Market Tick Size | NLT Tick Size |
| Eurodollar Futures and Options | Spot 0.0025 points (US$6.25) Subsequent contract months 0.0050 points (US$12.50) | All 0.0001 points (US$0.25) |
| Euroyen Libor Futures | Spot and subsequent 3 contract months 0.0025 points (¥625) 5th contract month onwards 0.005 points (¥1,250) | All 0.001 points (¥250) |
| Euroyen Libor Options | 0.005 points (¥1,250) | 0.001 points (¥250) |
| Euroyen Tibor Futures | Spot and subsequent 3 contract months 0.0025 points (¥625) 5th contract month onwards 0.005 points (¥1,250) | All 0.001 points (¥250) |
| Euroyen Tibor Options | 0.005 points (¥1,250) | 0.001 points (¥250) |
| Mini JGB Futures and Options | ¥0.01 per ¥100 face value (¥1,000) | ¥0.01 per ¥100 face value (¥1,000) |
| Mini Nikkei 225 Index Futures | 1 index point (¥100) | 0.01 index points (¥1) |
| MSCI Asia APEX 50 Index Futures | 0.5 index points (US$25) | 0.01 index points (US$0.50) |
| MSCI India Index Futures | 0.2 index points (US$10) | 0.01 index points (US$0.50) |
| MSCI Indonesia Index Futures | 5 index points (US$10) | 0.01 index points (US$0.02) |
| MSCI Malaysia Index Futures | 0.25 index points (USD$5) | 0.01 index points (US$0.20) |
| MSCI Philippines Index Futures | 1 index point (US$10) | 0.01 index points (US$0.10) |
| MSCI Singapore Index Futures and Options | 0.05 index points (S$5) | 0.01 index points (S$1) |
| MSCI Taiwan Index Futures | 0.1 index points (US$10) | 0.01 index points (US$1) |
| MSCI Taiwan Index Options | 0.01 index points (US$1) | 0.01 index points (US$1) |
| MSCI Thailand Index Futures | 0.25 index points (US$5) | 0.01 index points (US$0.20) |
| Nikkei 225 Index Futures | 5 index points (¥2,500) | 0.01 index points (¥5) |
| Nikkei 225 Index Options | 1 index point (¥500) | 0.01 index points (¥5) |
| Nikkei Stock Average Dividend Point Index Futures | 0.1 index points (¥1,000) | 0.01 index points (¥100) |
| SGX API 4 FOB Richards Bay Coal Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX API 5 FOB NewCastle Coal Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX API 8 CFR China Coal Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX AUD/JPY Futures | ¥ 0.01 (¥ 250) | ¥ 0.01 (¥ 250) |
| SGX AUD/USD Futures | US$0.0001 (US$2.50) | US$0.0001 (US$2.50) |
| SGX Baltic Capesize Time Charter Average (4 routes) Futures | US$1 per day | US$1 per day |
| SGX Options on Baltic Capesize Time Charter Average (4 routes) Futures Contract | US$0.01 per day | US$0.01 per day |
| SGX Baltic Capesize Time Charter Average (5 routes) Futures | US$1 per day | US$1 per day |
| SGX Options on Baltic Capesize Time Charter Average (5 routes) Futures | US$0.01 per day | US$0.01 per day |
| SGX Baltic Capesize Voyage C5 Route Futures Contract | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Baltic Handysize Time Charter Average Futures | US$1 per day | US$1 per day |
| SGX Options on Baltic Handysize Time Charter Average Futures Contract | US$0.01 per day | US$0.01 per day |
| SGX Baltic Panamax Time Charter Average Futures | US$1 per day | US$1 per day |
| SGX Options on Baltic Panamax Time Charter Average Futures Contract | US$0.01 per day | US$0.01 per day |
| SGX Baltic Supramax Time Charter Average (6 routes) Futures | US$1 per day | US$1 per day |
| SGX Options on Baltic Supramax Time Charter Average (6 routes) Futures Contract | US$0.01 per day | US$0.01 per day |
| SGX Baltic Supramax Time Charter Average (10 routes) Futures | US$1 per day | US$1 per day |
| SGX Options on Baltic Supramax Time Charter Average (10 routes) Futures Contract | US$0.01 per day | US$0.01 per day |
| SGX CNY/SGD Futures | S$0.0001 per 10 Chinese yuan (S$5) | S$0.0001 per 10 Chinese yuan (S$5) |
| SGX CNY/USD Futures | US$0.0001 per 10 Chinese yuan (US$5) | US$0.0001 per 10 Chinese yuan (US$5) |
| SGX DKI Sling LNG Futures | US$0.001 per mmBtu | US$0.001 per mmBtu |
| SGX EUR/CNH Futures | CNH 0.0001 (CNH 10) | CNH 0.0001 (CNH 10) |
| SGX FTSE China A50 Index Futures | 2.5 index points (US$2.50) | 0.01 index points (US$0.01) |
| SGX Fuel Oil futures | US$0.10 per tonne | US$0.10 per tonne |
| SGX Hot-Rolled Coil (HRC) Steel CFR ASEAN Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX ICIS LLDPE CFR China Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX ICIS LLDPE CFR S.E.Asia Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX ICIS MEG CFR China Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX ICIS PP Flat Yarn (Raffia) CFR China Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX ICIS PP Flat Yarn (Raffia) CFR S.E.Asia Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX ICIS SM CFR China Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX IHS McCloskey Indonesian Sub-Bit FOB Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX IDR/USD Futures | US$0.001 per 100,000 IDR (US$5) | US$0.0001 per 100,000 IDR (US$0.50) |
| SGX India Single Stock Futures | US$0.05 | US$0.01 |
| SGX INR/USD Futures | 0.01 US cents per 100 rupees (US$2) | 0.001 US cents per 100 rupees (US$0.20) |
| SGX Option on INR/USD Futures | 0.01 US cents per 100 rupees (US$2) | 0.001 US cents per 100 rupees (US$0.20) |
| SGX KRW/JPY Futures | ¥ 0.01 per 1,000 Korean won (¥ 250) | ¥ 0.01 per 1,000 Korean won (¥ 250) |
| SGX KRW/USD Futures | US$0.0001 per 1,000 Korean won (US$2.50) | US$0.0001 per 1,000 Korean won (US$2.50) |
| SGX MB Iron Ore CFR China (58% FE Fines) Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX MSCI China Free Index Futures | 2 index points (US$10) | 0.01 index points |
| SGX MSCI China Free Index Options | For premium < 100 index points: minimum tick of 0.5 index points (US$2.5). For premium >= 100 points: minimum tick of 2 index points (US$10) | 0.01 index points |
| SGX MSCI China Free Net Total Return (USD) Index Futures | 0.5 index points (US$25) | 0.0001 index points (US$0.005) |
| SGX MSCI Emerging Markets Asia Net Total Return (USD) Index Futures | 0.1 index points (US$10) | 0.0001 index points (US$0.01) |
| SGX MSCI Emerging Markets Net Total Return (USD) Index Futures | 0.1 index points (US$10) | 0.0001 index points (US$0.01) |
| SGX MSCI Emerging Markets (USD) Index Futures | 0.1 index points (US$5) | 0.0001 index points (US$0.005) |
| SGX MSCI India Net Total Return (USD) Index Futures | 0.1 index points (US$10) | 0.0001 index points (US$0.01) |
| SGX MSCI Indonesia Net Total Return (USD) Index Futures | 0.5 index points (US$5) | 0.0001 index points (US$0.001) |
| SGX MSCI Singapore Free Net Total Return (USD) Index Futures | 0.1 index points (US$5) | 0.0001 index points (US$0.005) |
| SGX MSCI Taiwan Net Total Return (USD) Index Futures | 0.1 index points (US$10) | 0.0001 index points (US$0.01) |
| SGX MYR/SGD Futures | S$0.001 per 100 MYR (S$2) | S$0.0001 per 100 MYR (S$0.20) |
| SGX MYR/USD Futures | US$0.001 per 100 MYR (US$2) | US$0.0001 per 100 MYR (US$0.20) |
| SGX Nifty 50 Index Futures | 0.5 index points (US$1) | 0.01 index points (US$0.02) |
| SGX Nifty 50 Index Options | 0.5 index points (US$1) | 0.01 index points (US$0.02) |
| SGX Nifty Bank Index Futures | 2 index points (US$2) | 0.01 index points (US$0.01) |
| SGX Nifty CPSE Index Futures | 1 index point (US$5) | 0.01 index point (US$0.05) |
| SGX Nifty IT Index Futures | 5 index points (US$5) | 0.01 index point (US$0.01) |
| SGX Nifty Midcap 50 Index Futures | 1 index point (US$5) | 0.01 index points (US$0.05) |
| SGX North Asia Sling LNG Futures | US$0.001 per mmBtu | US$0.001 per mmBtu |
| SGX Panamax Route P2A Timecharter Futures Contract | US$1 per day | US$1 per day |
| SGX Panamax Route P3A Timecharter Futures Contract | US$1 per day | US$1 per day |
| SGX PHP/USD Futures | US$0.001 per 1,000 PHP (US$2) | US$0.0001 per 1,000 PHP (US$0.20) |
| SGX PLATTS Benzene FOB Korea Futures Contract | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Platts Benzene-Naphtha Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Platts Dated Brent Index Futures | US$0.01 per barrel | US$0.01 per barrel |
| SGX Platts Gasoil FOB Singapore Index Futures | US$0.01 per barrel | US$0.01 per barrel |
| SGX Platts Iron Ore CFR China (Lump Premium) Index Futures | US$0.0001 per dry metric tonne unit | US$0.0001 per dry metric tonne unit |
| SGX Platts Kerosene FOB Singapore Index Futures | US$0.01 per barrel | US$0.01 per barrel |
| SGX Platts Naphtha CFR Japan Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Platts Paraxylene-Naphtha Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX PLATTS PX CFR China Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Platts Singapore Fuel Oil 180cst Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Platts Singapore Fuel Oil 380cst Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Robusta Coffee Futures | US$1 per tonne | US$1 per tonne |
| SGX SGD/CNH Futures | CNH 0.0001 (CNH 10) | CNH 0.0001 (CNH 10) |
| SGX SICOM RSS3 Futures | US$0.001 per kg | US$0.001 per kg |
| SGX SICOM TSR20 Futures | US$0.001 per kg | US$0.001 per kg |
| SGX Singapore Regrade Spread Futures | US$0.01 per barrel | US$0.01 per barrel |
| SGX Singapore Sling LNG Futures | US$0.001 per mmBtu | US$0.001 per mmBtu |
| SGX Singapore Visco Spread Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX THB/USD Futures | US$0.005 per 1,000 Thai baht (US$5) | US$0.005 per 1,000 Thai baht (US$5) |
| SGX TSI CFR China Premium JM25 Coking Coal Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX TSI FOB Australia Premium Coking Coal Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Options On TSI FOB Australia Premium Coking Coal Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX TSI Iron Ore CFR China (58% FE Fines) Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX TSI Iron Ore CFR China (62% Fe Fines) Index Futures | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX Options on TSI Iron Ore CFR China (62% FE Fines) Index Futures Option Contract | US$0.01 per metric tonne | US$0.01 per metric tonne |
| SGX TWD/USD Futures | US$0.0001 per 10 TW$ (US$10) | US$0.0001 per 10 TW$ (US$10) |
| SGX USD/CNH Futures | CNH 0.0001 (CNH 10) | CNH 0.0001 (CNH 10) |
| SGX Option on USD/CNH Futures | CNH 0.0001 (CNH 10) | CNH 0.0001 (CNH 10) |
| SGX USD/JPY Futures (Standard) | ¥ 0.005 (¥ 500) | ¥ 0.005 (¥ 500) |
| SGX USD/JPY Futures (Titan) | ¥ 0.005 (¥ 2,500) | ¥ 0.005 (¥ 2,500) |
| SGX USD/SGD Futures | S$0.0001 (S$2.50) | S$0.0001 (S$2.50) |
| SGX USEP Monthly Base Load Electricity Futures | S$0.01 per MWh | S$0.01 per MWh |
| SGX USEP Quarterly Base Load Electricity Futures | S$0.01 per MWh | S$0.01 per MWh |
| Straits Times Index Futures | 1 index point (S$10) | 0.01 index points (S$0.10) |
| USD Nikkei 225 Index Futures | 5 index points (US$25) | 0.01 index points (US$0.05) |
Amended on 6 December 20106 December 2010, 16 December 201016 December 2010, 24 January 201124 January 2011, 15 February 201115 February 2011, 11 June 201211 June 2012, 16 July 201216 July 2012, 25 February 201325 February 2013, 5 August 20135 August 2013, 30 September 201330 September 2013, 21 October 201321 October 2013, 11 November 201311 November 2013, 25 November 201325 November 2013, 16 December 201316 December 2013, 20 January 201420 January 2014, 17 February 201417 February 2014, 3 April 20143 April 2014, 4 August 20144 August 2014, 25 August 201425 August 2014, 1 September 20141 September 2014, 29 September 201429 September 2014, 20 October 201420 October 2014, 2 December 20142 December 2014, 5 January 20155 January 2015, 19 January 201519 January 2015, 9 February 20159 February 2015, 9 March 20159 March 2015, 31 August 201531 August 2015, 31 August 201531 August 2015, 5 October 20155 October 2015, 2 November 20152 November 2015, 7 December 20157 December 2015, 25 January 201625 January 2016, 1 February 20161 February 2016, 28 March 201628 March 2016, 28 March 201628 March 2016, 29 March 201629 March 2016, 4 April 20164 April 2016, 3 May 20163 May 2016, 2 June 20162 June 2016, 4 July 20164 July 2016, 11 July 201611 July 2016, 31 October 201631 October 2016, 14 November 201614 November 2016, 5 December 20165 December 2016, 27 February 201727 February 2017, 27 March 201727 March 2017, 22 May 201722 May 2017 and 12 June 201712 June 2017, 17 July 201717 July 2017, 17 July 201717 July 2017, 21 August 201721 August 2017, 18 September 201718 September 2017, 18 September 201718 September 2017, 23 October 201723 October 2017, 13 November 201713 November 2017 and 5 February 20185 February 2018.