2.3.1
Upon being notified by a TM in error of an Error Trade, the counterparty TM must contact all its affected clients to:
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.2
In the event that the parties agree to cancel an Error Trade, the following procedures will apply:
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.3
If the counterparty TM agrees to cancel an Error Trade, the TM in error should consider compensating, on an ex gratia basis, the counterparty TM for any losses that would be incurred as a result of the mutual cancellation.
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.4
If the parties cannot mutually agree to cancel the Error Trade, the TM in error may submit a written request to SGX-ST to review the Error Trade.
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.5
In making the request to SGX-ST to review an Error Trade, the TM in error must:
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.6
In a situation where multiple counterparty TMs are involved in an Error Trade and some agree to a mutual cancellation while the others do not, the TM in error must notify all the counterparty TMs of any referral to SGX-ST for review.
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.7
If a TM in error makes a request to SGX-ST to review an Error Trade, the counterparty TM must provide the TM in error and SGX-ST with its reasons for not agreeing to a mutual cancellation of the Error Trade.
Added on 3 June 20193 June 2019 and 3 June 20193 June 2019.
2.3.8
The timeframe referred to in paragraph 2.3.5 for the TM in error to make the request to review an Error Trade is to minimise the impact of any cancellation on the market. In this regard, SGX-ST reserves the right not to facilitate any request to review an Error Trade if SGX-ST receives the request after the said timeframe.
Added on 3 June 20193 June 2019.