Past version: Effective from 10 Dec 2018 to 02 Jun 2019
In relation to Novated Contracts, where CDP deems it necessary or desirable for ensuring a fair and orderly market or for ensuring a safe and efficient clearing facility, or for ensuring the integrity of the market or for proper management of systemic risk in the market, CDP may, whether in relation to 1 or more Clearing Members or otherwise:
(1) require that margins (whether additional or otherwise) be deposited with CDP during the next banking hour after demand or at such time as may be specified by CDP;
(2) require that a portion of the positions carried in any account(s) on the books of such Clearing Member be transferred to the books of 1 or more Clearing Members;
(3) require such Clearing Member to liquidate any of the positions carried in any account(s) on its books;
(4) modify any term in any Contract Specifications, which may include bringing forward the Last Trading Day, or modifying the settlement obligations as set out in ST Rule 9.4.1;
(5) require such Clearing Member to close any accounts;
(6) require such Clearing Member to deposit additional funds with CDP by such time as it shall specify and in the amount it deems necessary to meet settlements obligations;
(7) impose such additional capital requirements on such Clearing Member as CDP deems necessary or desirable;
(8) impose such limits and/or conditions to control the activities of such Clearing Member as CDP deems necessary or desirable; and/or
(9) take such action or require the Clearing Member to take such action as CDP deems necessary or desirable.
Added on 23 January 200923 January 2009 and amended on 10 December 201810 December 2018.