SGX Rulebooks
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Past version: Effective from 22 Apr 2013 to 09 Dec 2018

To the extent that the aggregate of the funds or assets available to CDP are insufficient at any time to meet the aggregate of CDP's liabilities to Clearing Members under all Novated Contracts and/or buying customers or selling customers under any New Purchase Contracts or New Sale Contracts (as respectively defined under Rule 8.2.2) subsisting at any time, based on the amount of the funds or assets available to CDP for such purpose at the time (taking into account CDP's other liabilities then subsisting), as certified in writing by CDP, each Clearing Member or buying customer or selling customer to whom CDP is liable under the Novated Contracts or New Purchase Contracts or New Sale Contracts shall only be entitled to receive payment pro-rata to the amount due to it as compared with the aggregate amount due to all Clearing Members and buying customers and selling customers under the Novated Contracts or New Purchase Contracts or New Sale Contracts; CDP shall remain liable for such Novated Contracts or New Purchase Contracts or New Sale Contracts but payment of the balance of such amounts due shall only be made as and when and to the extent that such funds or assets are subsequently available.

Amended on 23 January 200923 January 2009 and 22 April 201322 April 2013.