3.4.1
This Rule applies only to Trading Members that hold a Capital Markets Services Licence.
Added on 3 June 20193 June 2019.
3.4.2
A Trading Member shall not cause or permit its aggregate indebtedness to exceed 1,200% of its aggregate resources, or such other aggregate indebtedness requirement as SGX-ST may impose. It shall be a breach of the Rules by the Trading Member if its aggregated indebtedness exceed(s) such prescribed percentage of its aggregate resources, whether or not the Trading Member makes or has made the notification specified in Rule 3.4.3.
Added on 3 June 20193 June 2019.
3.4.3
Notification of Failure to Comply with Rule 3.4
If a Trading Member fails to comply or becomes aware that it will fail to comply with the aggregate indebtedness requirement prescribed under Rule 3.4, or such other percentage of aggregate indebtedness over aggregate resources as SGX-ST may impose, it shall immediately notify SGX-ST.
Added on 3 June 20193 June 2019.
3.4.4
Early Warning of Impending Failure to Comply with Rule 3.4
A Trading Member shall immediately notify SGX-ST if its aggregate indebtedness exceeds 600% of its aggregate resources or such other percentage as SGX-ST may impose.
Added on 3 June 20193 June 2019.
3.4.5
If SGX-ST is notified by a Trading Member under Rule 3.4.4 or becomes aware (whether or not there has been any notification by the Trading Member under Rule 3.4.4) that the Trading Member's aggregate indebtedness has exceeded or will exceed 600% of its aggregate resources, or such other percentage as SGX-ST may impose, SGX-ST shall be entitled to require the Trading Member to comply with any or all of the directions prescribed under Regulation 17(2) of the SFR (Financial and Margin Requirements).
Added on 3 June 20193 June 2019.
3.4.6
Qualifying Letter of Credit
Added on 3 June 20193 June 2019.