7.3 Exchange's Powers upon Occurrence of Adverse Events
Unless otherwise specified in this Rules, upon the occurrence of any Adverse Event, the Exchange may exercise any of the following powers as it deems fit:
7.3.1 Liquidation of Positions
The Exchange may limit trading to liquidation of positions only or order liquidation of all or a portion of the positions in a Member's House Account or Customer Account or both.
7.3.2 Fix Settlement Price
The Exchange may fix a settlement price for the liquidation of positions in any Contract, including a Connect Contract.
Amended on 29 July 2022.
7.3.3 Call for Additional Margins
The Exchange may require additional margins to be deposited with the Clearing House for any Contract, including a Connect Contract.
Amended on 29 July 2022.
7.3.4 Confine or Limit Trading
The Exchange may confine trading of any Contract to a specific price range or modify Trading Days or hours.
7.3.5 Alter Delivery Conditions
The Exchange may defer delivery or designate alternative delivery points or procedures or alter conditions of delivery with respect to deliverable Futures Contracts.
7.3.6 Call on Trading Member's Letter of Credit
If a Trading Member's act or omission results in a Clearing Member defaulting under Rule 7A.01A.1 of the Clearing Rules, the Exchange or the Clearing House, as the case may be, reserves the right to call on any of the Qualifying Letters of Credit posted by the Trading Member to meet its financial requirements set forth in Rule 2.5, and apply the proceeds toward the discharge of liabilities incurred by the Clearing Member to the Clearing House.
7.3.7 Other Actions as Deemed Fit
The Exchange may take such other actions against any Member, Approved Trader or Registered Representative as it deems fit to discharge its regulatory obligations under the Act to maintain a fair, orderly and transparent market.
7.3.8 No Liability
Without prejudice to the generality of Chapter 1, the Exchange, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.7.4, and their respective directors, officers, employees, representatives and agents shall not be liable to any Trading Member or any other Person in respect of any damage, loss, cost or expense of whatsoever nature (whether direct, indirect, special or consequential, including without limitation any loss of business, revenue, goodwill, bargain or profit), suffered or incurred by such Trading Member or other Person, arising out of or in connection with, or arising out of or in connection with any thing done or not done as a direct or indirect consequence of, the exercise or non-exercise of the powers under Rule 7.3 or the determination of the satisfaction or non-satisfaction of any condition for the exercise of such powers.