Versions

 

Chapter 6 Designated Market-Maker ("DMM")

Rule Violation Whether composition may be offered Composition amount that may be offered by SGX-ST, where SGX-ST has determined the Trading Member, Chief Executive Officer and/or Trading Representative to be liable Mandatory minimum penalty imposable by the Disciplinary Committee
Rule Chapter/Number Brief Description of Rule Trading Members (or Designated Market Maker, where applicable) Chief Executive Officer Trading Representatives (or Market Making Representative, where applicable)
1st Violation 2nd Violation 3rd Violation 1st Violation 2nd Violation 3rd Violation 1st Violation 2nd Violation 3rd Violation
Chapter 6 — Designated Market-Maker ("DMM")
6.6 Obligations of a Designated Market-Maker
6.6.1(a) DMM to comply with the Rules [Unless otherwise specified in this Schedule]
Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
DMM to continue to satisfy the registration criteria and any approval conditions or restrictions prescribed by SGX-ST Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.2 DMM to publish on the Trading System competitive bid and offer quotations in the prescribed manner Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.3(a) DMM to establish and maintain adequate internal control systems Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.3(b) DMM to pre-notify SGX-ST of any change to its internal control systems Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.3(c) DMM to comply with additional requirements prescribed by SGX-ST Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.3(d) DMM to establish adequate segregation between their market-making and regulated activities Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.4 DMM to route trades through a Trading Member, if it is not a Trading Member Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.5 DMM to appoint and register with SGX-ST at least one person as a market-making representative Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.6 DMM to provide an independent auditors' report, upon request by SGX-ST Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
6.6.7 DMM to pay all fees, levies and charges prescribed by SGX-ST Compoundable $500 $1,000 $2,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.6.8 DMM to report adverse events set out in Rule 6.6.8 Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.
6.7 Suspension or Restriction of Trades in Specified Instruments
6.7.2 DMM not to make a market in a Specified Instrument that was suspended or in which trading was halted, without SGX-ST's approval Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
6.7.3 DMM not to make a market in Specified Instruments that will breach any restrictions on trades imposed by SGX-ST. Not Compoundable Not Compoundable N.A. N.A. N.A. N.A. N.A. N.A. $10,000
6.11 Resignation
6.11.1(a) DMM to give necessary notice of resignation Compoundable $2,000 – $4,000 $4,000 – $7,000 $7,000 – $10,000 N.A. N.A. N.A. N.A. N.A. N.A. N.A.

Added on 3 June 20193 June 2019.