Past version: Effective up to 28 Nov 2010
A Trading Member must:—
(1) register with SGX-ST persons who deal in securities or trade in Futures Contracts as Trading Representatives (unless exempted by SGX-ST);
(2) where it engages a Remisier, enter into a written agency agreement with that Remisier. The agreement must address the following:—
(a) the amount of commission payable to the Remisier;
(b) the amount of security deposit to be given by the Remisier to the Trading Member;
(c) responsibility for any losses or liabilities as a result of any acts or omissions of the Remisier; and
(d) charges that may be levied by the Trading Member on its Remisier;
(3) inform SGX-ST in writing at least 7 days before a dealer converts to a Remisier or vice versa. SGX-ST may vary or waive the notice period;
(4) inform SGX-ST in writing at least 7 days before it appoints as a Trading Representative a person who is a Trading Representative of another Trading Member;
(5) inform SGX-ST in writing at least 7 days before it appoints as a Trading Representative a person who recently ceased to be registered as a Trading Representative. A person has recently ceased to be registered if:—
(a) he or she ceased within 1 month from the new appointment;
(b) the person's licence has not lapsed, expired, been revoked or suspended by the Authority; or
(c) the person has not been expelled as a result of disciplinary proceedings; and
(6) inform SGX-ST in writing at least 7 days before a Trading Representative ceases to act. If the cessation is with immediate effect, the Trading Member must inform SGX-ST in writing the same day.
Amended on 3 April 20083 April 2008.