4.35.1
A Trading Member linked to a broker-linked balance must have a written agreement with the holder of the broker-linked balance setting out (a) the circumstances under which the Trading Member may cause securities to be delivered or transferred into the broker-linked balance; and (b) the conditions to which the Trading Member's rights over the securities in the broker-linked balance are subject. The Trading Member must provide the written agreement to SGX-ST for inspection if requested.
Added on 3 June 20193 June 2019.
4.35.2
The Trading Member shall act in accordance with the written agreement, the Rules and the Securities and Futures Act, save that nothing in the Rules shall prevent a Trading Member from releasing securities from the broker-linked balance linked to it into the customer's main balance.
Added on 3 June 20193 June 2019 and amended on 18 January 2022.
4.35.3
Subject to Rule 4.35.4, a Trading Member must approve the release of securities from the broker-linked balance linked to it by the end of the Market Day following the day on which it receives the customer's request for such release. SGX-ST may, at its discretion, waive or vary this timeline. In accordance with Rule 4.13.1, a Trading Member must maintain proper, complete and accurate records of each customer's requests and its response to such requests.
Added on 3 June 20193 June 2019.
4.35.4
A Trading Member may withhold approval for the release of any securities from a broker-linked balance linked to it only to the extent necessary to secure an obligation owed to it by the holder of the broker-linked balance.
Added on 3 June 20193 June 2019.
4.35.5
A Trading Member that does not approved a customer's request for release of any securities must:
SGX-ST may, at its discretion, waive or vary any of the timelines in this Rule.
In accordance with Rule 4.13.1, a Trading Member must maintain proper, complete and accurate records of each customer's requests and its response to such requests.
Added on 3 June 20193 June 2019.
4.35.6
SGX-ST may, in respect of any Securities Account that is maintained directly with it:
Added on 3 June 20193 June 2019.
4.35.7
A resigning Trading Member must, in respect of each customer that has a broker-linked balance linked to it, release all securities in the broker-linked balance into the customer's main balance by the effective date of resignation.
Added on 3 June 20193 June 2019.