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SGX-ST Rules
Schedule A
Current version: Effective from 03 Jul 2025 to 31 Jul 2025
Rule ViolationWhether composition may be offeredComposition amount that may be offered by SGX-ST, where SGX-ST has determined the Trading Member, Chief Executive Officer and/or Trading Representative to be liableMandatory minimum penalty imposable by the Disciplinary Committee
Rule Chapter/NumberBrief Description of RuleTrading Members (or Designated Market Maker, where applicable)Chief Executive OfficerTrading Representatives (or Market Making Representative, where applicable)
1st Violation2nd Violation3rd Violation1st Violation2nd Violation3rd Violation1st Violation2nd Violation3rd Violation
Chapter 10 — Requirements on Specific Securities and Futures Contracts
10.7Management of Positions
10.7.2Trading Member to immediately notify SGX-ST of the details of any account which exceeds the monitoring thresholds on positions that have not been set-offCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.7.4Trading Member to comply with measures imposed by SGX-ST to reduce its risk exposureNot CompoundableNot CompoundableN.A.N.A.N.A.$10,000
10.8Internal Controls
10.8.1(a)Trading Member to establish and maintain adequate internal control systems to set credit limits or position limitsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(b)Trading Member to establish and maintain adequate internal control systems to monitor positions and comply with notification requirements on monitoring thresholdsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(c)Trading Member to establish and maintain adequate internal control systems to compute and collect marginsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(d)Trading Member to establish and maintain adequate internal control systems to monitor margin callsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(e)Trading Member to establish and maintain adequate internal control systems to manage customers' accounts that are in margin deficitCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(f)Trading Member to establish and maintain adequate internal control systems to manage customers' accounts that may fail to meet settlement obligationsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(g)Trading Member to establish and maintain adequate internal control systems to define and manage sources of liquidity to meet increased settlement obligationsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(h)Trading Member to establish and maintain adequate internal control systems to limit the impact of significant market movementsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.8.1(i)Trading Member to establish and maintain adequate internal control systems to meet such other requirements as SGX-ST may prescribeCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9Margin Requirements
10.9.2(a)Trading Member to procure Initial Margins from its customers and require customers to meet the Required MarginsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
Initial Margins and Required Margins to be met in the form of collateral as SGX-ST prescribesCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
Valuation of collateral to be in accordance with the haircut rates prescribed by SGX-STCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.2(b)Trading Member not to accept specified currency for the purpose of meeting margin requirementsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.3Trading Member to call for additional margins if the Customer Asset Value falls below the Required MarginsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.4Trading Member not to allow customer to incur new trades unless the stipulated conditions are metCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.5Trading Member not to set margin requirements that are less stringent than those prescribed by SGX-STCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.8Trading Member not to allow a customer to withdraw Excess Margins unless the stipulated conditions are metCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.9Trading Member to comply with requirements prescribed by SGX-ST on the computation and monitoring of customer's marginsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.10(a)Trading Member to notify SGX-ST of any under-margined accountCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.10(b)Trading Member to submit to SGX-ST information pertaining to any matter and within such time stipulated by SGX-STCompoundable$500$1,000$2,000$250$500$1,000N.A.N.A.N.A.N.A.
10.9.11Trading Member to require a customer to comply with the margin requirementsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.9.12Trading Member not to enter into a financing arrangement with a customer in respect of that customer's margin requirementsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.
10.10Capital Requirement for Marginable Futures Contracts
10.10.2Trading Member to compute Total Risk Requirement in the same manner as prescribed in the RBC NoticeNot CompoundableNot CompoundableN.A.N.A.N.A.$10,000
10.11Prohibited Trading Practices
10.11.1(a)Trading Member and Trading Representative not to execute any trade beyond any limits imposedCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.
10.13Additional Obligations in respect of American Depository Receipts
10.13.1Trading Member to disclose risks pertaining to trading in American Depository ReceiptsCompoundable$2,000 – $4,000$4,000 – $7,000$7,000 – $10,000$1,000 – $3,000$3,000 – $6,000$6,000 – $8,000N.A.N.A.N.A.N.A.

Added on 3 June 20193 June 2019.