Whole Section

  • 1.1 Application

    • 1.1.2

      These Clearing Rules shall come into effect on the Effective Date.

    • 1.1.3

      Except where CDP, SGX RegCo, or any person or entity referred to under Rule 1.1.7 otherwise expressly agrees with or expressly commit to any party, the benefit of any performance of obligations under these Clearing Rules and/or Clearing Directives is restricted only to Clearing Members. None of CDP, its related corporations, SGX RegCo, any person or entity referred to under Rule 1.1.7, or their respective directors, officers, employees, representatives or agents (the "Relevant Persons") shall be liable to any other party (including Trading Members). In particular, the Relevant Persons shall have no liability to any party affected or aggrieved by any alleged action or omission.

      Amended on 23 January 200923 January 2009, 15 September 201715 September 2017 and 3 June 20193 June 2019.

    • 1.1.4

      All Clearing Members are to note the foregoing and ensure that they are taking on membership, and/or carrying on business, as Clearing Members, and that they transact and will transact by reference to CDP or upon information or action referable to CDP, only on the foregoing basis, and will also ensure that they will not open or allow the continued operation of any account for any person with respect to any transaction unless such person has been notified of the foregoing provisions and has satisfied itself that the same is acceptable and accepts the same.

    • 1.1.5

      CDP may waive the application of a rule (or part of a rule) to suit the circumstances of a particular case, unless the rule specifies that CDP shall not waive it. CDP may grant a waiver subject to such conditions as it considers appropriate. A waiver is only effective if the conditions are satisfied.

      CDP shall notify all Clearing Members of such waivers as soon as practicable.

    • 1.1.6

      The Clearing Rules may be amended or repealed by the Board in accordance with the SFA.

      Amended on 3 June 20193 June 2019.

    • 1.1.7

      CDP may delegate, assign or grant authority to exercise any of its rights, powers, authorities and discretions under these Rules, including any right to enforce these Rules, to such person or entity as it may determine in its sole discretion, without consent from any Clearing Member.

      Where these Rules provide that any power, authority or discretion is to be exercised by the Board, the Board may delegate, assign or grant authority to exercise such power, authority or discretion to any person or entity. The Board may authorise a delegate to sub-delegate.

      Added on 15 September 201715 September 2017.

    • 1.1.8

      SGX RegCo shall have the authority to exercise any rights, powers, authorities and discretions under these Rules, including the right to enforce these Rules. In the exercise of any such rights, powers, authorities and discretions under these Rules, SGX RegCo shall be bound to the same extent as CDP in respect of any obligations arising from the exercise of such rights, powers, authorities and discretions.

      Added on 15 September 201715 September 2017.