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Chapter 9 Settlement

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 9 — Settlement
9.4 Relationship Between Trading Member and Selling Customer
9.4.2 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. N.A. N.A. N.A.
9.5 Relationship Between Trading Member and Clearing Member
9.5.5 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. N.A. N.A. N.A.
9.6 Relationship Between Trading Member and Buying Customer
9.6.2 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. N.A. N.A. N.A.
9.6.3 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. N.A. N.A. N.A.
9.6.5 Subject to Rule 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. N.A. N.A. N.A.
9.4.8 Trading Member not to engage in imprudent credit practices when exercising discretion with regard 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. N.A. N.A. N.A.

Added on 3 June 20193 June 2019.