CDP Clearing Rules
- Rule 1 — Application and Definitions
- Rule 2 — Administration
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Rule 3 — Membership
- 3.1 Clearing Member
- 3.2 The Application
- 3.3 Appeals
- 3.4 Clearing Member's Rights
- 3.5 General Obligations of a Clearing Member
- 3.6 Clearing Members to Act as Principals
- 3.7 Responsibility of Clearing Members for the Exchange Trades of Trading Members
- 3.7A Relationship Between Clearing Member and Trading Member
- 3.8 Reporting Requirements
- 3.9 Qualification of Trading Members
- 3.10 Resignation by Clearing Member
- Rule 4 — Appointment of Chief Executive Officers and Directors
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Rule 5 — Financial/Capital Requirements
- 5.1 Minimum Capital and Financial Requirements of Clearing Members Incorporated in Singapore
- 5.1A Early Warning Financial Requirements of Clearing Members Incorporated in Singapore
- 5.1B Notification Requirements of Clearing Members Incorporated in Singapore
- 5.1C Qualifying Letter of Credit
- 5.1D Minimum Capital and Financial Requirements of Clearing Members Incorporated Outside Singapore
- 5.1DA Liquidity Resource Requirement
- 5.1E Early Warning Financial Requirements of Clearing Members Incorporated Outside Singapore
- 5.1F Notification Requirements of Clearing Members Incorporated Outside Singapore
- 5.1G Qualifying Letter of Credit
- 5.1H [Rule has been deleted.]
- 5.1I Total Risk Requirement
- 5.1J Notification of Reduction in Capital
- 5.1.2 [Rule has been deleted.]
- 5.1.3 [Rule has been deleted.]
- 5.1.4 [Rule has been deleted.]
- 5.2 [Rule has been deleted.]
- 5.3 [Rule has been deleted.]
- 5.4 Powers to Impose Other Requirements
- 5.5 Reserve Fund Requirement
- 5.6 Exposure to Single Customer
- 5.7 Exposure to Single Security
- 5.8 Monthly Returns
- 5.9 Appointment of Auditors and Audit Requirements
- 5.10 [Rule has been deleted.]
- 5.11 Other Financial Requirements
- 5.12 Register of Connected Persons
- 5.13 Exemption for SGXlink Pte Ltd
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Rule 5A — Position Accounts
- 5A.1 — Separate Position Accounts and Position Account Designation
- 5A.2 — Reporting Requirements for Position Account
- 5A.3 — Allocation of trades to Position Accounts
- 5A.4 — Authorisation of SGX-ST Trading Member to Maintain Position Accounts
- 5A.5 — Position Accounts carrying positions for more than one beneficial owner
- 5A.6 — Position Reconciliation
- 5A.7 — Disclosure of information
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Rule 6 — Clearing and Settlement between Clearing Members and CDP
- 6.1 Clearing of Exchange Trades
- 6.2 Clearing and Novation
- 6.2A Obligations under Novated Contracts
- 6.3 Set-Off of Payment Obligations in respect of Novated Contracts and Determination of Payment Obligations between CDP and Clearing Members
- 6.4 Settlement of Payment Obligations Between Clearing Members and CDP
- 6.5 Settlement of Securities in respect of Novated Contracts
- 6.6 CDP'S Obligations in respect of Novated Contracts
- 6.6A [Rule has been deleted.]
- 6.7 Buying-In, Procurement and Cash Settlement
- 6.7A Penalties and Disciplinary Action for the Non-Delivery of Securities
- 6.8 [Rule has been deleted.]
- 6.9 [Rule has been deleted.]
- 6.10 Emergency Powers
- 6.11 Market Disorders, Impossibility of Performance, Emergency Situations
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Rule 6A — Margin Requirements
- 6A.1 Applicability
- 6A.2 Clearing Member to Procure Customer Margins for Marginable Futures Contract
- 6A.3 Margin Management for Clearing Members In Respect of Margins from Customers for Marginable Futures Contracts
- 6A.4 Acceptable Collateral for Clearing Members In Respect of Margins from Customers for Marginable Futures Contract
- 6A.4A Margin Management for Clearing Members In Respect of Any Margins from Customers
- 6A.5 Clearing Member to Deposit Margins with CDP
- 6A.6 Monies and Assets Acceptable by CDP as Margins
- 6A.7 Composition of Margins Deposited with CDP
- 6A.8 Mark to Market Gains
- 6A.9 Valuation Price
- 6A.9A Additional Margins
- 6A.9B CDP's Records
- 6A.10 Segregation of Customer's Money and Assets
- 6A.11 Notification of Under-Segregation
- 6A.12 [Rule has been deleted.]
- 6A.13 [Rule has been deleted.]
- 6A.14 Under-Margined Accounts
- 6A.15 [Rule has been deleted.]
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Rule 6B — Collateral
- 6B.1 Trust Arrangements
- 6B.2 Security Deed to be executed by Clearing Member
- 6B.3 General Lien and Right to Set-Off
- 6B.4 Collateral Deposit
- 6B.5 Collateral Withdrawal
- 6B.6 Valuation of Collateral
- 6B.7 Investment and Use of Collateral
- 6B.8 Interest and fees
- 6B.9 Safekeeping Indemnity
- 6B.10 Regulatory Information
- Rule 6C — Payments
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Rule 7 — Clearing Fund
- 7.1 Establishment of Clearing Fund
- 7.2 Contributions by Clearing Members
- 7.3 Form of Contributions
- 7.4 Contributions by CDP
- 7.5 Insurance Policy
- 7.6 CDP'S Standby Line of Credit [Rule has been deleted.]
- 7.7 Investment of Assets of Clearing Fund
- 7.7A Interest and fees
- 7.8 Application of Clearing Fund
- 7.9 Order of Application of Contributions
- 7.10 Top-Up of Clearing Member's Contributions in an Event of Default
- 7.11 Resignation
- 7.12 Recovery of Sums
- 7.13 Return of Contributions
- 7.14 Calculation of Variable Deposit [Rule has been deleted.]
- 7.15 Time of Payment of Contributions
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Rule 8 — Default Rules
- 8.1 Events of Default
- 8.1A Insolvency and Deemed Insolvency
- 8.2 Effect of Default on Novated Contracts other than in respect of Marginable Futures Contracts
- 8.3 Payment by Buying Customer Under New Purchase Contract
- 8.4 Delivery of Securities Under New Purchase Contract
- 8.5 Delivery of Securities Under New Sale Contract
- 8.6 Payment to Selling Customer Under New Sale Contract
- 8.6A Effect of Default on Novated Contracts in respect of Marginable Futures Contracts
- 8.6AA
- 8.6B Application of Collateral
- 8.6C Set-Off of Obligations Under New Purchase Contract and New Sale Contract
- 8.6D Trust Arrangements for Monies in Connection with New Purchase Contracts and New Sale Contracts
- 8.6E Exclusion of Liability
- 8.6F CDP's Obligations under New Purchase Contracts or New Sale Contracts
- 8.7 Certification of Net Sum Due
- 8.8 [Rule has been deleted.]
- 8.9 Clearing Members to Render Assistance
- Rule 9 — Suspension or Restriction of Clearing
- Rule 10 — Liabilities
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Rule 11 — Supervisory Rules
- 11.1 Clearing House Investigations
- 11.2 Clearing House Inspections
- 11.3 Disciplinary Action
- 11.3A Composition by CDP
- 11.4 Disciplinary Committee
- 11.5 Disciplinary Committee Powers
- 11.6 Disciplinary Committee Proceedings
- 11.7 Appeals Committee
- 11.8 Appeals
- 11.9 Appeals Proceedings
- 11.10 Payment of Costs
- 11.11A Limitation of Liability
- 11.11 Fine
- 11.12 Interim Powers of CDP
- Rule 12 — Foreign Market Links
- Rule 13 — General
- Rule 14 — Transitional Provisions
- Appendices
- Regulatory Notices to CDP Clearing Rules
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Practice Notes
- Practice Note 1.2 Marginable Futures Contracts
- Practice Note 3.5.4 — Business Continuity Requirements
- Practice Note 3.9.1(3) — Pre-Execution Checks
- Practice Note 3.9.1(6) — Conflicts of Interest
- Practice Note 3.9.2A, 3.9.3 Procedures to Suspend Qualification of a Trading Member
- Practice Note 5A.2.1, 5A.2.2 — Position Account Reporting
- Practice Note 5A.3.1, 5A.3.4 — Position Account Allocation
- Practice Note 5A.4.2, 5A.4.3 — Requirement for Clearing Member to Ensure Compliance of Position Account Rules by Authorized Trading Member
- Practice Note 6.5.1B(2), 6.6.2, 6.7.11, 8.4.1A, 8.5.2A and 8.6F.2 — Determination of Cash Settlement Amount
- Practice Note 6.5.1B(2) — Priority Considerations when Selecting Buy Trades to Cash Settle
- Practice Note 6.6A.1 [Rule has been deleted.]
- Practice Note 6.7.2(1A), 6.7.4(8), 6.7.7A and 6.7.11 — Buying-in, Procurement and Cash Settlement if Intended Settlement Day is Day with Half Day Trading
- Practice Note 6A.5.2 Calculation of Amount of Clearing Member Required Margins
- Practice Note 6A.6 Forms of Collateral Acceptable by CDP as Margins
- Practice Note 6A.9A — Additional Margins
- Schedules