4.5A.2 Conditions Governing Direct Market Access

(1) For every customer that a Trading Member authorises Direct Market Access for, the Trading Member must have measures in place for each customer to:—

(a) meet minimum standards including standards on financial standing, credit history and criminal records, adverse records or pending court proceedings relating to prohibited market conduct;

(b) have appropriate procedures in place to assure that all relevant persons:—

(i) are familiar with and comply with these Rules;

(ii) have knowledge and proficiency in the use of the order management system;

(c) be provided information concerning its access to the Trading System and applicable laws:

(d) be subject to a legally binding agreement governing the terms and conditions for such Direct Market Access;

(e) have security arrangements in place to ensure that unauthorised persons are denied such Direct Market Access; and

(f) assist SGX-ST in any investigation into potential violations of these Rules and applicable laws. Such assistance shall be timely and shall include, but is not limited to, the provision of information to SGX-ST relating to the identity and address of any person who may be responsible for the execution of an order or trade.

(2) Where a Trading Member permits the delegation of Direct Market Access by its authorised customer and any other persons, the Trading Member must include in the legally binding agreement referred to in Rule 4.5A.2(1)(d) the requirement for such customer and any other persons delegating Direct Market Access to ensure that all persons with Direct Market Access are subject to the requirements set out in Rules 4.5A.2(1)(a) to (f).

Added on 18 September 2012 18 September 2012.