SGX Rulebooks
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Past version: Effective from 25 Feb 2011 to 25 Apr 2013

In respect of any Clearing Member, its payment obligations arising under the Novated Contracts which are due for settlement on any Settlement Day shall be set-off so that the total of all amounts that such Clearing Member is obliged to pay CDP on that Settlement Day shall be set off against the total of all amounts that such Clearing Member is entitled to receive from CDP on that Settlement Day. The resultant net amount shall be known as the "Net Inter-Broker Settlement Balance". CDP shall issue to the Clearing Member the "Daily Settlement of Account with CDP" by such time as set out in Appendix 1 on any Settlement Day to notify the Clearing Member of its Net Inter-Broker Settlement Balance.

Amended on 23 January 200923 January 2009 and 25 February 201125 February 2011.