For all securities except bonds and structured warrants, SGX-ST may use any of the following alternative prices as the Reference Price for the no-cancellation range.
(a) The previous closing price.
(b) The average of the last quoted bid price and the last quoted offer price for the security immediately preceding the error trade. The selection will not include the quotes provided by the parties who are involved in the error trade that is under review.
(c) A price derived from a pricing model established by SGX-ST. For example, in the case of a share consolidation, SGX-ST may use the last traded price prior to the effective date of the consolidation, adjusted for the consolidation ratio.
Added on 3 June 20193 June 2019 and amended on 30 May 2023.