Rule 3 — Membership
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 3 — Membership | ||||||
| 3.5 | General Obligations of a Clearing Member | |||||
| 3.5.1(1) | Clearing Member to comply with the applicable eligibility criteria | [Unless otherwise specified in this Schedule] | ||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | ||
| 3.5.1(2) | Clearing Member to in this Schedule] clear and settle Exchange Trade transacted by it in accordance with Clearing Rules and Clearing Directives | [Unless otherwise specified in this Schedule] | ||||
| Not Compoundable | Not Compoundable | $10,000 | ||||
| 3.5.1(3) | Clearing Member to clear and settle Exchange Trade transacted by a Trading Member qualified by it as a principal obligor and not merely as guarantor through CDP in accordance with Clearing Rules and Clearing Directives | [Unless otherwise specified in this Schedule] | ||||
| Not Compoundable | Not Compoundable | $10,000 | ||||
| 3.5.1(4) | Clearing Member to in this Schedule] comply with the Clearing Rules and Clearing Directives | [Unless otherwise specified in this Schedule] | ||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | ||
| 3.5.1(5) | Failure to grant CDP all rights and remedies as set forth in Clearing Rules and the Clearing Directives | [Unless otherwise specified in this Schedule] | ||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | ||
| 3.5.1(6) | Failure to pay all fees, charges, costs, compensation and other sums as provided in Clearing Rules and Clearing Directives | [Unless otherwise specified in this Schedule] | ||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | ||
| 3.5.1(7) | Failure to make contributions or payments to the Clearing Fund as required in Clearing Rules | Not Compoundable | Not Compoundable | $10,000 | ||
| 3.5.1(8) | Failure to take or refrain from taking such action as may be required in relation to the Clearing Fund | [Unless otherwise specified in this Schedule] | ||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | ||
| 3.5.1(9)(a) | Clearing Member to have proper procedures and systems for its business to prevent any violations by its directors and officers | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.1(9)(b) | Clearing Member to have in place sufficient resources and maintain adequate internal controls and risk management systems for its business | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.1(9)(c) | Clearing Member's employees or agents to reasonably discharge their duties and obligations in enforcing procedures and systems for business | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.1(10) | Clearing Member to comply with the clearing limits as CDP may prescribe from time to time | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.1(11) | Clearing Member to maintain bank accounts in the currencies as necessary, and with banks acceptable to CDP, to facilitate payments and/or settlement as may be required under these Clearing Rules. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.1(12) | Clearing Member to ensure its Memorandum and Articles of Association or its constitution shall at all times conform to Clearing Rules and Clearing Directives | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.1(13) | Clearing Member to take such steps, including without limitation procedural steps (whether of a technical or non-technical nature or otherwise), as CDP may require to ensure the orderly clearing and settlement of Exchange Trades qualified by the Clearing Member. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.2(1) | Clearing Member to promptly submit to CDP and/or such party as directed by CDP such information, electronic records, returns or documents as and when such information, electronic records, returns or documents are required by CDP. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.3(1) | Clearing Member to maintain complete and accurate records, or in the case of a Bank Clearing Member, records in relation to the Bank Clearing Member's business governed by this Clearing Rules, in accordance with the SFA and/or Regulations | Not Compoundable | Not Compoundable | $10,000 | ||
| Clearing Member to maintain complete and accurate records, or in the case of a Bank Clearing Member, records in relation to the Bank Clearing Member's business governed by this Clearing Rules, in accordance with the Clearing Rules and Clearing Directives | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | |
| 3.5.3(2) | Making or causing to be made false or misleading entry in books, records, reports etc | Not Compoundable | Not Compoundable | $10,000 | ||
| 3.5.3(3) | Omitting to make material entry in any books, records, reports etc | Not Compoundable | Not Compoundable | $10,000 | ||
| 3.5.3(4) | Altering or destroying any books, records, reports etc without a valid reason | Not Compoundable | Not Compoundable | $10,000 | ||
| 3.5.4 | Business Continuity Requirements | |||||
| 3.5.4(1) | Clearing Member to assess business and operational risks and maintain adequate business continuity arrangements | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.4(2) | Clearing Member to document its business continuity requirements in a business continuity plan | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.4(3) | Clearing Member to demonstrate sufficient awareness of the risks, mitigating measures and state of readiness by way of an attestation to the Board of Directors | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 3.5.4(4) | Clearing Member to review and test its business continuity plan regularly | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.5.4(5) | Clearing Member to appoint emergency contact person | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| Clearing Member's emergency contact persons to be contactable at all times | Compoundable | $500 | $1,000 | $2,000 | N.A. | |
| Clearing Member to immediately notify CDP in the event of an emergency | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | |
| 3.7A | Relationship Between Clearing Member and Trading Member | |||||
| 3.7A.1 | Where relevant, Clearing Member to make payment or deliver securities to a Trading member in respect of any Exchange Trade, within prescribed timelines. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.7A.2 | Subject to Rules 3.7A.3 and 3.7A.4, if a buying Trading Member fails to meet any of the timelines set out in the SGX-ST Rules for payment to its Clearing Member, Clearing Member to force-sell securities of the buying Trading Member within prescribed timelines. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.7A.5 | Clearing 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 | N.A. |
| 3.7A.7 | Clearing Member, if informed by CDP that a right to receive securities pursuant to an Exchange Trade is to be cash settled, to immediately inform the relevant buying Trading Member. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8 | Reporting Requirements | |||||
| 3.8(1) | Clearing Member to notify CDP of violations of laws and regulations or conduct which is detrimental to the financial integrity, reputation or interests of CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(2) | Clearing Member to notify CDP if any of its directors, employees or agents is investigated, arrested, charged, convicted suspended or pleads guilty to any criminal offence involving fraud or dishonesty | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(3) | Clearing Member to notify CDP if any of its directors, employees or agents is the subject of any written complaint of any offence involving fraud or dishonesty, which may have a material impact on the financial position on the Clearing Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(4) | Clearing Member to notify CDP when any of tis directors, employees or agents is the subject of any investigation, disciplinary proceeding or action taken by the Clearing Member in respect of the specified matters | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(4A) | Clearing Member to notify CDP if any of its directors, employees or agents engages in conduct which circumvents the SFA, SFR, this Clearing Rules or Clearing Directives, or which is inconsistent with the principles of good business practice | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(4B) | Clearing Member to notify CDP if it is insolvent or is engaged in bankruptcy or winding up proceedings | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(4C) | Clearing Member to notify CDP if the Clearing Member is experiencing an emergency or potentially debilitating situation that threatens its operations. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(5) | Clearing Member to notify CDP of changes to its name | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(6) | Clearing Member to notify CDP of changes which may have the effect of altering control in the Clearing Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(7) | Clearing Member to notify CDP of any transactions resulting in the change of ownership of the specified proportion of the Clearing Member's share capital, or an increase of the specified proportion of the Clearing Member's share capital. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(8) | Clearing Member to notify CDP of any change in the composition of its board of directors or of any director | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(9) | Clearing Member to notify CDP of any change or amendment to its constitutive documents | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(10) | Clearing Member to notify CDP of any death or bankruptcy of any of its directors | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(11) | Clearing Member to notify CDP of any engagement or involvement in any new business or any change in the Clearing Member's business | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(12) | Clearing Member to notify CDP of any change in the Clearing Member's senior management | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.8(13) | Clearing Member to notify CDP of any breach of director's duties | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9 | Qualification of Trading Members | |||||
| 3.9.1(1) | Clearing Member to inform CDP of the qualification of a Trading Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| Clearing Member to provide such details as requested by CDP | Not Compoundable | Not Compoundable | $10,000 | |||
| 3.9.1(2) | Clearing Member to pay such administrative fees as CDP may levy | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 3.9.1(3) | Clearing Member to have in place adequate internal control measures and risk management systems to monitor the Trading Member's Exchange Trades | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.1(4) | Clearing Member to enter into a written agreement with the Trading Member setting out the terms and conditions governing their relationship | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.1(5) | Clearing Member to inform CDP if it believes that a Trading Member qualified by it has defaulted or may default | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.1(6) | Clearing Member to have proper separation of front and back office functions | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.2(1) | Clearing Member to give not less than the time period specified by CDP of its intention to cease qualifying a Trading Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.2(2) | Clearing Member to satisfy CDP that it has taken proper steps to disable the Trading Member from entering into Exchange Trades | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.2(3) | Clearing Member to satisfy CDP that it has taken proper steps for the orderly clearing and settlement of the Trading Member's Exchange Trades | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.2(4) | Clearing Member to comply with the directions of CDP in relation to the orderly cessation of the qualification of the Trading Member's Exchange Trades | Not Compoundable | Not Compoundable | $10,000 | ||
| 3.9.2(5) | Clearing Member to take steps as CDP may deem appropriate to ensure that none of the Trading Member's Exchange Trade will be cleared and settled through the Clearing Member by the proposed date of cessation | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.2A(1)(a) | Clearing Member to notify CDP of its decision to suspend its qualification of a Trading Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.9.2A(1)(b) | Clearing Member to comply with any reasonable direction of CDP in relation to the suspension of the qualification of a Trading Member | Not Compoundable | Not Compoundable | $10,000 | ||
| 3.9.2A(2) | Clearing Member to notify CDP in writing within the specified period, of its intention to resume or cease qualification of a Trading Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.10 | Resignation by Clearing Member | |||||
| 3.10.1 | Failure to comply with procedures for resignation as a Clearing Member | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 3.10.5(1) | Clearing Member shall not transact or accept for clearing and settlement, Exchange Trades that are due for settlement after the tenth Settlement Day from the date of the resignation notice. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
Added on 16 May 201116 May 2011 and amended on 18 September 201218 September 2012, 1 July 20161 July 2016 and 10 December 201810 December 2018.
Rule 4 — Chief Executive Officers
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 4 — Chief Executive Officers | ||||||
| 4.1 | Appointment of Chief Executive Officers | |||||
| 4.1.1(1) | Clearing Member to appoint one (1) person as a Chief Executive Officer | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 4.1.1(4) | Clearing Member to notify CDP at least seven (7) days prior to the appointment of a Chief Executive Officer | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 4.2 | Obligations | |||||
| 4.2.1 | Failure to comply with Clearing Rules or Directives. | [Unless otherwise specified in this Schedule] | ||||
| Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. | ||
| 4.2.2 | Chief Executive Officer to pay CDP all fees, levies and charges as CDP prescribes | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 4.2.3(1) | Chief Executive Officer to inform CDP within 14 days before engaging in, or holding any substantial shareholding in, any other business that might potentially conflict with being an Chief Executive Officer | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 4.2.3(3) | Chief Executive Officer to supply CDP with information it requires regarding the engagement or acquisition of shareholding | Not Compoundable | Not Compoundable | $10,000 | ||
| 4.2.3(4) | Chief Executive Officer not to proceed with engagement or acquisition of shareholding contrary to CDP's objection | Not Compoundable | Not Compoundable | $10,000 | ||
| 4.2.3(5) | Chief Executive Officer to end engagement or shareholding if required by CDP | Not Compoundable | Not Compoundable | $10,000 | ||
| 4.3 | Automatic De-Registration | |||||
| 4.3 | Clearing Member to notify CDP immediately upon trigger of CEO de-registration condition | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 4.5 | Resignation of Approved Executive Director | |||||
| 4.5 | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
Added on 16 May 201116 May 2011 and amended on 3 June 20193 June 2019.
Rule 5 — Financial/Capital Requirements
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 5 — Financial/Capital Requirements | ||||||
| 5.1 | Minimum Capital and Financial Requirements of Clearing Members Incorporated in Singapore | |||||
| 5.1.1(1) | General Clearing Member to maintain base capital requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1(2) | General Clearing Member to meet financial resources requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1(3) | General Clearing Member to meet aggregate indebtedness requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1(4) | General Clearing Member to comply with other financial and operational requirements prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1A(1) | Bank Clearing Member to maintain base capital requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1A(2) | Bank Clearing Member to comply with RRA Financial Requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1A(3) | Bank Clearing Member to comply with other financial and operational requirements prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1B(3) | Clearing Member to immediately notify CDP of failure, or impending failure, to comply with minimum capital and financial requirements | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1.1C | Clearing Member to comply with CDP's directions where Clearing Member has failed to comply with the minimum capital and financial requirements | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1A | Early Warning Financial Requirements of Clearing Members Incorporated in Singapore | |||||
| 5.1A.1 | General Clearing Member to immediately notify CDP where financial resources have fallen below 120% of its total risk requirement, or where its aggregate indebtedness has exceeded 600% of its aggregate resources | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1A.2 | General Clearing Member to comply with CDP's directions where financial resources have fallen below 120% of its total risk requirement | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1A.3 | General Clearing Member to comply with CDP's directions where aggregate indebtedness has exceeded 600% of aggregate resources | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1B | Notification Requirements of Clearing Members Incorporated in Singapore | |||||
| 5.1B.1 | Clearing Member to immediately notify CDP where financial resources have fallen below 150% of total risk requirement or of any reportable event in relation to its regulatory capital and liquidity ratios | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1B.2 | Clearing Member to comply with other notification requirements and conditions prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1B.3 | Clearing Member to comply with CDP's directions where financial resources have fallen below 150% of its total risk requirement or that a reportable event in relation to its regulatory capital and liquidity ratios has occurred | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1D | Minimum Capital and Financial Requirements of Clearing Members Incorporated Outside Singapore | |||||
| 5.1D.1(1) | General Clearing Member to maintain base capital requirements | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.1(2) | General Clearing Member to meet adjusted net head office funds requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.1(3) | General Clearing Member to meet aggregate indebtedness requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.1(4) | General Clearing Member to comply with other financial and operational requirements prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.2(1) | Bank Clearing Member to maintain base capital requirement | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.2(2) | Bank Clearing Member to comply with RRA Financial Requirements | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.2(3) | Bank Clearing Member to meet other financial and operational requirements prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.3 | Clearing Member to immediately notify CDP of failure, or impending failure, to meet minimum capital and financial requirements | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1D.4 | Clearing Member to comply with CDP's directions where Clearing Member has failed to meet minimum capital and financial requirements | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1DA | Bank Clearing Member to comply with Liquidity Resource Requirement | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1E | Early Warning Financial Requirements of Clearing Members Incorporated Outside Singapore | |||||
| 5.1E.1 | General Clearing Member to immediately notify CDP where adjusted net head office funds or cash and/or acceptable government securities deposited with CDP have fallen below 120% of total risk requirement, or where its aggregate indebtedness has exceeded 600% of aggregate resources | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1E.2 | General Clearing Member to comply with CDP's directions where adjusted net head office funds have fallen below 120% of total risk requirement | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1E.3 | General Clearing Member to comply with CDP's directions where aggregate indebtedness has exceeded 600% of aggregate resources | Not Compoundable | Not Compoundable | $10,000 | ||
| 5.1F | Notification Requirements of Clearing Members Incorporated Outside Singapore | |||||
| 5.1F.1 | Clearing Member to immediately notify CDP where Clearing Member's adjusted net head office funds have fallen below 150% of total risk requirement or of any reportable event in relation to its regulatory capital and liquidity ratios | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1F.2 | Clearing Member to comply with other notification requirements prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.1F.3 | Clearing Member to comply with CDP's directions where adjusted net head office funds have fallen below 150% of total risk requirement or that a reportable event in relation to its regulatory capital and liquidity ratios has occurred | Not Compoundable | Not Compoundable | $10,000 | ||
| [deleted] | [deleted] | |||||
| [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
| 5.5 | Reserve Fund Requirement | |||||
| 5.5.1 | General Clearing Member to maintain reserve fund based on its audited net profits of each year | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.5.2 | Reserve fund not to be made available for declaration of dividends without the prior approval of CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.6 | Exposure to Single Customer | |||||
| 5.6.1 | General Clearing Member to immediately notify CDP of excess exposure to a single customer | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.7 | Exposure to Single Security | |||||
| 5.7.1 | General Clearing Member to immediately notify CDP of excess exposure to a single security | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.7.8 | General Clearing Member not to permit exposure to suspended security to increase in monetary value above the level subsisting on 30th consecutive day of suspension until suspension lifted | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.8 | Monthly Returns | |||||
| 5.8.1 | Clearing Member to submit monthly returns to CDP by by time frame and in format specified by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.9 | Appointment of Auditors and Audit Requirements | |||||
| 5.9.1 | Clearing Member to seek the approval of CDP prior to any appointment of new auditors | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 5.9.1A | Bank Clearing Member to inform CDP of the appointment of new auditors within 7 days of the appointment | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 5.9.2 | Failure by General Clearing Member to furnish relevant forms required under the SFR, annual accounts and auditors' certificate to CDP within 5 months of the end of the General Clearing Member's financial year | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.9.5 | Bank Clearing Members to furnish annual accounts and auditors' certificate within 5 months of the end of the Bank Clearing Members' financial year | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11 | Other Financial Requirements | |||||
| 5.11.1 | General Clearing Member not to reduce paid-up ordinary share capital without prior written approval of CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.2(1) | General Clearing Member to notify CDP prior to the issue of preference shares | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.2(2) | General Clearing Member to comply with conditions for redeeming redeemable preference shares that are computed as part of its financial resources | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.3(1) | General Clearing Member to obtain the prior approval of CDP if it enters into a subordinated loan agreement other than the format prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.3(2) | General Clearing Member to immediately notify CDP when it draws down a qualifying subordinate loan | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.3(3) | General Clearing Member not to repay a subordinated loan principal in contravention of the requirements and conditions | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.4 | General Clearing Member not to make any unsecured loan or advance, pay any dividend or Director's fees or increase in Director's remuneration without prior written approval of CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.11.5 | General Clearing Member to submit to CDP a report on all its credit facilities, or any changes to its credit facilities | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5.12 | Register of Connected Persons | |||||
| 5.12 | General Clearing Member to maintain register of directors and their connected persons | Compoundable | $500 | $1,000 | $2,000 | N.A. |
Added on 16 May 201116 May 2011 and amended on 29 December 201429 December 2014 and 22 April 201922 April 2019.
Rule 5A — Position Accounts
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 5A — Position Accounts | ||||||
| 5A.1 | Separate Position Accounts and Position Account Designation | |||||
| 5A.1.1 | Clearing Member to maintain separate Position Accounts for each Customer or each group of joint Customers whose account is carried on the books of the Clearing Member. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.1.2 | Clearing Member to identify and designate each Position Account by the full name of the Customer(s) whose account is carried on the books of the Clearing Member and by a unique account code. | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 5A.2 | Reporting Requirements for Position Account | |||||
| 5A.2.1 | Clearing Member to report to CDP such information as CDP may require for each Position Account as soon as practicable. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.2.2 | Clearing Member to report to CDP any change in information previously reported to CDP for any Position Account as soon as practicable. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.3 | Allocation of trades to Position Accounts | |||||
| 5A.3.1 | Clearing member to allocate positions of each trade cleared by the Clearing Member for a Customer to that Customer's Position Account or in accordance with that Customer's instructions as soon as practicable. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.3.2 | Clearing Member to ensure conditions set out in Rules 5A.3.2(a) or (b) are satisfied in the case of any sub-allocation of positions from a Customer's Position Account to another Position Account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.3.4 | Clearing Member to ensure that no trades are warehoused for more than 1 Market Day, unless under exceptional circumstances, where the Clearing Member must document the reasons for the extension of time. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.4 | Authorisation of SGX-ST Trading Member to Maintain Position Accounts | |||||
| 5A.4.2 | Clearing Member who authorises the Authorised Trading Member under Rule 5A.4.1(a) shall ensure that the Authorised Trading Member performs the obligations under Rules 5A.1 and 5A.2, as they apply to the Authorised Trading Member in respect of each Authorised Account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.4.3 | The Clearing Member who authorises the Authorised Trading Member under Rule 5A.4.1(b) shall ensure that the Authorised Trading Member performs the obligations under Rules 5A.1, 5A.2, 5A.3 and 5A.6, as they apply to the Authorised Trading Member in respect of each Authorised Account. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.4.4(a) | Clearing Member to give not less than 30 days' written notice to CDP of its intention to cease authorizing that Authorised Trading Member and the proposed date of cessation. | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 5A.4.4(b) | Clearing Member to satisfy CDP that it has taken, or will take, proper steps for the orderly clearing and settlement of the Authorised Trading Member's Exchange Trades. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 5A.4.4(c) | Clearing member to comply with any reasonable direction of CDP in relation to the orderly cessation of the authorization of the Authorised Trading Member. | Not compoundable | N.A. | N.A. | N.A. | $10,000 |
| 5A.5 | Position Accounts carrying positions for more than one beneficial owner | |||||
| 5A.5.1 | Clearing Member is to identify the beneficial owner(s) and/or controlling party(ies) of any Position Account to CDP upon request by CDP within such time as CDP may require. | Not compoundable | N.A. | N.A. | N.A. | $10,000 |
| 5A.6 | Position Reconciliation | |||||
| 5A.6.1 | Clearing Member to ensure that positions in each Position Account maintained with CDP are accurate, and inform CDP and if required rectify any discrepancy immediately. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
Added on 1 July 20161 July 2016 and amended on 10 December 201810 December 2018.
Rule 6 — Clearing and Settlement
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 6 — Clearing and Settlement | ||||||
| 6.4 | Settlement of Payment Obligations | |||||
| 6.4.1 | Clearing Member to pay CDP the Final Settlement Balance during prescribed time | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6.6A | [deleted] | |||||
| [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
| 6.8 | [deleted] | |||||
| 6.8.2.2 | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
| 6.8.3 | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
Added on 16 May 201116 May 2011 and amended on 21 January 201321 January 2013 and 29 July 201329 July 2013.
Rule 6A — Margin Requirements In Respect of Margins from Customers for Marginable Futures
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 6A — Margin Requirements | ||||||
| 6A.2 | Clearing Member to Procure Customer Margins for Marginable Futures Contract | |||||
| 6A.2.1 | Clearing Member to procure Initial Margins and require customers to meet Customer Required Margins for Marginable Futures Contract | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.2.2 | Clearing Member to comply with requirements on the computation and monitoring of customer's margins | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.2.3 | Clearing Member not to allow Excess Margins to be withdrawn unless withdrawal does not cause the deposited collateral to be less than zero. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.3 | Margin Management for Clearing Members in Respect of Margins from Customers for Marginable Futures Contracts | |||||
| 6A.3.1 | Clearing Member not to accept new orders or trades in Marginable Futures Contracts for clearing from any customer unless the specified conditions are met | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.3.2 | Clearing Member to call for additional margins from its customer if the Customer Asset Value falls below the Customer Required Margins | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.3.6 | In respect of Marginable Futures Contracts, Clearing Member not to set margin requirements that are less stringent than those prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.4A | Margin Management for Clearing Members In Respect of Any Margins from Cu | |||||
| 6A.4A.1(3) | Clearing Member to comply with CDP's directions to take such action to offset all or part of the positions to rectify a margin deficiency | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.5 | Clearing Members to Deposit Margins with CDP | |||||
| 6A.5.1 | Clearing Member to deposit Clearing Member Required Margins with CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.5.4 | Clearing Member not to deposit with CDP, monies and assets for its customer for the purpose of meeting Clearing Member Required Margin for Novated Contracts other than Marginable Futures Contracts | Not Compoundable | Not Compoundable | $10,000 | ||
| 6A.6 | Monies and Assets Acceptable by CDP as Margins | |||||
| 6A.6.4 | Clearing Member to notify CDP as to whether Collateral is to be maintained solely as margin for Customer Accounts or otherwise. | Not Compoundable | Not Compoundable | $10,000 | ||
| 6A.9A | Additional Margins | |||||
| 6A.9A.2 | Clearing Member to deposit additional margins with CDP by such time as CDP shall specify and in such form as CDP prescribes | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.10 | Segregation of Customer's Money and Assets | |||||
| 6A.10.1(1) | Clearing Member to comply with the customer segregation requirements under the Rules and the SFA | Not Compoundable | Not Compoundable | $10,000 | ||
| 6A.10.1(2) | Clearing Member to ensure that CDP is at all times provided with such information as it requires to discharge its segregation obligations under the SFA and/or enable CDP to issue the Authority with the verification of margin funds statement placed with CDP as required under the SFA | Not Compoundable | Not Compoundable | $10,000 | ||
| 6A.11 | Notification of Under Segregation | |||||
| 6A.11.1 | Every Clearing Member shall immediately report to CDP of any under-segregation of moneys or assets as required under the Rules of the SFA | Not Compoundable | Not Compoundable | $10,000 | ||
| 6A.12 | [deleted] | |||||
| [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
| [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | |
| 6A.14 | Under-Margined Accounts | |||||
| 6A.14.1 | Clearing Member to immediately notify CDP when any account does not comply with the Customer Required Margins by an amount which exceeds its aggregate resources | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6A.15 | [deleted] | |||||
| [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
Added on 16 May 201116 May 2011 and amended on 21 January 201321 January 2013 and 29 July 201329 July 2013.
Rule 6B — Collateral
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 6B — Collateral | ||||||
| 6B.4 | Collateral Deposit | |||||
| 6B.4.1 | Clearing Member to deposit with CDP such Collateral, in such form and denomination as may be prescribed by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6B.6 | Valuation of Collateral | |||||
| 6B.6.3 | Following revaluation of any Collateral, where such Collateral is found to be insufficient to meet any obligation of the Clearing Member, Clearing Member to deposit with CDP such additional Collateral as may be required to meet such obligation, within such tme as CDP may require | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6B.7 | Investment and Use of Collateral | |||||
| 6B.7.1A | Clearing Member to secure contractual waivers in favour of the Clearing Member from its customers, waiving their rights to interest and investment earnings from Collateral held with CDP. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6B.7.2 | Clearing Member to ensure that all Collateral deposited with CDP are deposited on the basis that such Collateral shall be subject to the Clearing Rules, the Security Deed and the SFA, and that prior to depositing Collateral with CDP for the account or for the contracts of any person, such person has been notified of and has accepted that the Collateral is subject to the Clearing Rules, the Security Deed and the SFA. | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6B.8 | Interest and Fees | |||||
| 6B.8.1 | Clearing Member to pay CDP such administrative fees as may be prescribed by CDP for the investment and management of the Collateral | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 6B.9 | Safekeeping Indemnity | |||||
| 6B.9.4 | If any loss of Collateral occurs, or any Collateral becomes unavailable to CDP such that any obligation of the Clearing Member cannot be fully met, Clearing Member to deposit with CDP such additional Collateral as may be required within such time as CDP may require | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 6B.10 | Regulatory Information | |||||
| 6B.10.1 | Clearing Member to provide CDP with information in relation to Collateral deposited with CDP for regulatory purposes | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
Added on 21 January 201321 January 2013 and amended on 22 April 201322 April 2013.
Rule 7 — Clearing Fund
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 7 — Clearing Fund | ||||||
| 7.2 | Top up of Clearing Member’s Contributions in an Event of Default | |||||
| 7.2.1 | Clearing Member to pay the required contributions to the Clearing Fund within time stipulated by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 7.10 | Top Up of Clearing Member’s Contributions | |||||
| 7.10.3 | Clearing Member to top up deficiency in Clearing Fund contributions within time determined by CDP | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| 7.7A | Interest and Fees | |||||
| 7.7A.1 | Clearing Member to pay CDP such administrative fees as may be prescribed by CDP for the investment and management of the assets of the Clearing Fund and any excess monies and assets placed with CDP in respect of the Clearing Fund. | Compoundable | $500 | $1,000 | $2,000 | N.A. |
Added on 16 May 201116 May 2011, amended on 21 January 201321 January 2013, and amended on 10 May 2023.
Rule 8 — Default Rules
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 8 — Default Rules | ||||||
| 8.6B | Application of Margins and Collateral | |||||
| 8.6B.2 | Clearing Member not to take any action or do anything that will interfere with CDP's ability to apply Contributions, margins or Collateral | Not Compoundable | Not Compoundable | $10,000 | ||
| 8.7 | Certification of Net Sum Due | |||||
| 8.7.1 | Clearing Member to make payment of net amount payable to CDP in respect of Clearing Member's rights and obligations under these Clearing Rules | Not Compoundable | Not Compoundable | $10,000 | ||
| 8.9 | Clearing Members to Render Assistance | |||||
| 8.9.1 | Defaulting Clearing Member to render all assistance and information, and to comply with all other requirements. | Not Compoundable | N.A. | N.A. | N.A. | $10,000 |
Added on 16 May 201116 May 2011 and amended on 21 January 201321 January 2013, 22 April 201322 April 2013 and 6 September 2021.
Rule 10 — Liabilities
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 10 — Liabilities | ||||||
| 10.2 | Force Majeure | |||||
| 10.2.3 | Clearing Member to notify CDP and any other relevant party upon the occurrence of any event of Force Majeure | Not Compoundable | Not Compoundable | $10,000 | ||
| 10.6 | Indemnity | |||||
| 10.6.2 | Clearing Member to reimburse the relevant Indemnified Person for the specified payments | Compoundable | $2,000 – $4,000 | $4,000 – $7,000 | $7,000 – $10,000 | N.A. |
| Clearing Member to render cooperation to the relevant Indemnified Person in respect of any legal, arbitration or other regulatory proceedings. | Not Compoundable | Not Compoundable | $10,000 | |||
Added on 16 May 201116 May 2011 and amended on 15 September 201715 September 2017.
Rule 11 — Supervisory Rules
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 11 — Supervisory Rules | ||||||
| 11.1 | Clearing House Investigations | |||||
| 11.1.3 | Clearing Member to cooperate with investigations conducted by CDP | Not Compoundable | Not Compoundable | $10,000 | ||
| 11.1.4 | Clearing Member, director, officer, employee or agent not to wilfully make, furnish or permit the making or furnishing of any false or misleading information, statement or report to CDP | Not Compoundable | Not Compoundable | $10,000 | ||
| 11.2 | Clearing House Inspections | |||||
| 11.2.3 | Clearing Member to give Clearing House Inspector access to all information, books and records as requested | Not Compoundable | Not Compoundable | $10,000 | ||
| 11.2.5 | Clearing Member to immediately pay fees for inspection by CDP | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 11.6 | Disiplinary Committee Proceedings | |||||
| 11.6.4 | Evidence | |||||
| 11.6.4(3) | Clearing Member not to breach its undertaking not to disclose information received from CDP in relation to the charge to any person, except to the legal representative of the person charged for the purposes of the hearing | Not Compoundable | Not Compoundable | $10,000 | ||
| 11.9 | Appeal Proceedings | |||||
| 11.9.5(2) | Clearing Member not to breach its undertaking not to disclose information received from CDP in relation to the charge to any person, except to the legal representative of the person charged for the purposes of any appeal | Not Compoundable | Not Compoundable | $10,000 | ||
Added on 16 May 201116 May 2011.
Rule 13 — General
| Rule Violation | Whether composition may be offered | Composition Amount which may be Offered by CDP, where CDP has Determined the Clearing Member to be Liable | Mandatory minimum penalty imposable by the DC | |||
| Rule Chapter/Number | Brief Description of Rule | 1st Violation | 2nd Violation | 3rd Violation | ||
| Rule 13 — General | ||||||
| 13.2 | Fees Payable | |||||
| 13.2.1 | Failure to pay CDP such fees and charges for the clearing and settlement of Exchange Trades based on CDP's fee schedules from time to time and such fines and default interest as may be imposed by CDP from time to time | Compoundable | $500 | $1,000 | $2,000 | N.A. |
| 13.2.2 | Failure to pay CDP such fees and charges for the clearing and settlement of Exchange Trades based on CDP's fee schedules from time to time and such fines and default interest as may be imposed by CDP from time to time | Compoundable | $500 | $1,000 | $2,000 | N.A. |
Added on 16 May 201116 May 2011.