2.02C.1.1 it is licensed and regulated for the provision of clearing services by a recognised regulator of the jurisdiction for which it provides the remote clearing services, which shall be a jurisdiction outside of Singapore and acceptable to the Clearing House, and is governed by the laws of such jurisdiction;

2.02C.1.2 it is not incorporated in Singapore, has no business presence in Singapore related to the provision of financial services (including clearing services) and does not serve Singapore domiciled customers in respect of such business;

2.02C.1.3 it has a base capital of at least S$50,000,000 and complies with such other capital and financial requirements as may be prescribed by the Clearing House from time to time;

2.02C.1.4 it has in place the appropriate procedures and capabilities to participate in the default management activities contemplated under Chapter 7A;

2.02C.1.5 it has, and upon admission will maintain, minimum capital and financial requirements pursuant to Rule 2.08;

2.02C.1.6 its managerial or executive staff have a high standard of integrity and a level of knowledge (as may be deemed acceptable by the Clearing House) on the nature, risks and obligations in respect of the market or contracts that it wishes to clear;

2.02C.1.7 it has in place sufficient resources and establishes and maintains 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;

2.02C.1.8 it maintains segregated and adequate back-office functions;

2.02C.1.9 it has the ability to conduct its clearing activities, including the maintenance of adequate contactable staff, during the Clearing House's business hours; and

2.02C.1.10 it satisfies any and all other requirements and criteria for such Clearing Membership, which the Clearing House may from time to time hereafter prescribe.