SGX Rulebooks
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10.5.1

When accessing a Foreign Market via the Exchange Link to trade in Selected Foreign Securities, a Trading Member:—

(1) transacts with SGX-SPV as principal;
(2) is not relieved of any obligation or liability otherwise applicable to it;
(3) is solely responsible for the accuracy of details of Orders and other trading messages that are entered by it or on its behalf; and
(4) owes its obligation in relation to Orders to SGX-SPV.

10.5.2

The following Rules apply to an Order executed on a Foreign Market via the Exchange Link by SGX-SPV:—

(1) the settlement obligations are owed by the Trading Member (if it is a Clearing Member) or its qualifying Clearing Member to CDP instead of SGX-SPV; and
(2) SGX-SPV's settlement obligations are owed to CDP.

10.5.3

A Trading Member is responsible for its Order, regardless of whether the Trading Member authorised the sending of the Order.