The Exchange may, from time to time, issue Directives, Regulatory Notices or Practice Notes to supplement this Rules or to provide guidance on the interpretation or application of this Rules.

Directives, Regulatory Notices and Practice Notes may only be used in the manner and for such purposes as expressly contemplated under this Rules. "Directives" are binding notices directing Members to take corrective or other actions in the interests of a fair, orderly and transparent market or to address investor protection concerns. "Regulatory Notices" are binding notices issued by the Exchange regarding regulatory matters pertaining to the Markets and Partner Markets. "Practice Notes" are guidelines that seek to explain the application and interpretation of a Rule. Practice Notes do not bind the Exchange in the application of a Rule.

Amended on 29 July 2022.

The order of precedence in the construction and interpretation of the various legislative and quasi-legislative instruments governing the Markets and their participants shall be, in descending order of precedence, as follows:

In the event of a conflict between any provision in the aforesaid instruments the provisions contained in the instrument at a higher precedence level shall prevail.