| Rule Violation | Whether composition may be offered | Composition 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 liable | Mandatory minimum penalty imposable by the Disciplinary Committee | |||||||||
| Rule Chapter/Number | Brief Description of Rule | Trading Members (or Designated Market Maker, where applicable) | Chief Executive Officer | Trading Representatives (or Market Making Representative, where applicable) | ||||||||
| 1st Violation | 2nd Violation | 3rd Violation | 1st Violation | 2nd Violation | 3rd Violation | 1st Violation | 2nd Violation | 3rd Violation | ||||
| Chapter 11 — Cancellation of Contracts and Error Trades | ||||||||||||
| 11.3 | Procedures for Cancellation | |||||||||||
| 11.3.1(a)(i) | Trading Member that caused the error to notify SGX-ST of the error in accordance with the specified requirements | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 11.3.1(a)(ii) | Trading Member that caused the error to contact the counterparty Trading Member immediately to seek agreement to cancel an error trade | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 11.3.1(b) | Both Trading Members to take necessary action to minimise any potential market impact caused by the error trade | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 11.3.2(a) | Trading Member that caused the error to inform SGX-ST of the agreement without delay | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 11.3.2(b) | Both Trading Members to submit the necessary trade cancellation request forms to SGX-ST | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | $1,000 – $3,000 | $3,000 – $6,000 | $6,000 – $8,000 | N.A. | N.A. | N.A. | N.A. |
| 11.3.5 | Requesting Trading Member to pay the trade review fee | Compoundable | $500 | $1,000 | $2,000 | $250 | $500 | $1,000 | N.A. | N.A. | N.A. | N.A. |
Added on 3 June 20193 June 2019.