Each General Clearing Member incorporated outside Singapore shall at all times:—
(1) Base Capital Requirement
(a) maintain net head office funds of not less than S$5,000,000; or
(b) in the case of a General Clearing Member who is also a clearing member of SGX-DC, maintain net head office funds of not less than S$8,000,000;
(2) Adjusted Net Head Office Funds Requirement
not cause or permit its adjusted net head office funds to fall below its total risk requirement;
not cause or permit its adjusted net head office funds to fall below its total risk requirement;
(3) Aggregate Indebtedness
not cause or permit its aggregate indebtedness to exceed 1,200% of its aggregate resources; and
not cause or permit its aggregate indebtedness to exceed 1,200% of its aggregate resources; and
(4) Other Requirements
comply with the accounting, reporting, book-keeping and any other financial and operational requirements prescribed by CDP.
comply with the accounting, reporting, book-keeping and any other financial and operational requirements prescribed by CDP.
Added on 1 July 20081 July 2008.