Chapter 9 — Settlement

Rule Violation

Whether composition may be offered

Composition Amount which may be Offered by SGX-ST, where SGX-ST has Determined the Trading Member, Approved Executive Director 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)

Approved Executive Directors

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 9 — Settlement

9.2

Relationship Between Trading Member and Selling Customer

9.2.2A

Trading Member must make payment of sale proceeds to the selling customer within prescribed timelines.

Compoundable

$2,000 – $4,000

$4,000 – $7,000

$7,000 – $10,000

$1,000 – $3,000

$3,000 – $6,000

$6,000 – $8,000

N.A.

9.3

Relationship Between Trading Member and Clearing Member

9.3.4

Buying Trading Member must, where relevant, submit delivery-versus-payment settlement instructions within prescribed timelines, and/or make payment for its trade within prescribed timelines.

Compoundable

$2,000 – $4,000

$4,000 – $7,000

$7,000 – $10,000

$1,000 – $3,000

$3,000 – $6,000

$6,000 – $8,000

N.A.

9.4

Relationship Between Trading Member and Buying Customer

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9.4.2B

Trading Member, if informed by CDP or its Clearing Member that a right to receive securities pursuant to an Exchange Trade is to be replaced with a right to receive a monetary sum ("Cash Settlement Amount") pursuant to the Clearing Rules, to immediately inform the relevant buying customer

Compoundable

$2,000 – $4,000

$4,000 – $7,000

$7,000 – $10,000

$1,000 – $3,000

$3,000 – $6,000

$6,000 – $8,000

N.A.

9.4.3

Trading Member to deliver securities to the buying customer within prescribed timelines; and/or make payment of any Cash Settlement Amount, corporate action entitlements or compensation for corporate action entitlements pursuant to the Clearing Rules, to the buying customer, within prescribed timelines.

Compoundable

$2,000 – $4,000

$4,000 – $7,000

$7,000 – $10,000

$1,000 – $3,000

$3,000 – $6,000

$6,000 – $8,000

N.A.

9.4.3B

Subject to Rules 9.4.4, if a buying customer fails to meet any of the timelines in Rule 9.4.3A, Trading Member to force-sell the securities of the buying customer within prescribed timelines.

Compoundable

$2,000 – $4,000

$4,000 – $7,000

$7,000 – $10,000

$1,000 – $3,000

$3,000 – $6,000

$6,000 – $8,000

N.A.

9.4.5

Trading Member not to engage in imprudent credit practices when exercising discretion with regards to deferment of force-sale.

Compoundable

$2,000 – $4,000

$4,000 – $7,000

$7,000 – $10,000

$1,000 – $3,000

$3,000 – $6,000

$6,000 – $8,000

N.A.

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Added on 16 May 2011 16 May 2011 and amended on 10 December 2018 10 December 2018.