(1) it is authorized to conduct banking business in Singapore pursuant to section 4 of the Banking Act 1970;

(2) it or its parent bank has obtained a credit rating that indicates, at least, adequate intrinsic safety and soundness, excluding external credit support, and a limited ability to withstand adverse business or economic conditions from any rating agency registered with an appropriate authority;

(3) upon admission, it shall register one (1) person as a Chief Executive Officer pursuant to Rule 4;

(4) it has, and upon admission will maintain, minimum capital and financial requirements pursuant to Rules 5.1.1A or 5.1D.2 (whichever is applicable) and 5.4;

(5) its managerial or executive staff have a high standard of integrity and a level of knowledge (as may be deemed acceptable by CDP) on the nature, risks and obligations in respect of the organised market or trades that it wishes to clear;

(6) it must have in place sufficient resources and establish and maintain adequate systems for preserving a sound liquidity and financial position at all times including the maintaining of adequate staff and facilities for monitoring its cashflow and funding requirements and maintaining sufficient liquidity for its day to day operations governed by this Clearing Rules;

(7) it must maintain segregated and adequate back-office functions in respect of its operations governed by this Clearing Rules;

(8) it satisfies any and all other requirements and criteria for such Clearing Membership, which CDP may from time to time hereafter prescribe; and

(9) [deleted]

(10) [deleted]