(1) A Trading Member must appoint at least 1 person as Approved Executive Director to be registered with SGX-ST. SGX-ST may, in its absolute discretion refuse to register an appointed person as an Approved Executive Director. SGX-ST is not obliged to give any reasons..
(2) Subject to Rule 6.1.1(2A), the Approved Executive Director must be approved by the Authority as an Executive Director in accordance with the Securities and Futures Act.
(2A) Where the Trading Member does not hold a Capital Markets Services Licence, it shall appoint a fit and proper person that is a senior management responsible for the Trading Member's business activities on SGX-ST for which it holds a licence specified in Rule 4.1.1(b) as an Approved Executive Director.
(3) The Approved Executive Director is to be responsible for ensuring that the Trading Member complies with the Rules, and any Directives that SGX-ST prescribes.