SGX-DC Clearing Rules
- Chapter 1 Application of Rules
-
Chapter 2 Clearing Membership
- 2.01 General
- 2.02 Eligibility Criteria for General Clearing Members
- 2.02A Eligibility Criteria for Direct Clearing Members
- 2.02B Eligibility Criteria for Bank Clearing Members
- 2.02C Eligibility Criteria for Remote Clearing Members
- 2.02D Eligibility Criteria for FCM Clearing Members
- 2.03 Honorary Clearing Membership
- 2.04 Application
- 2.05 Admission
- 2.06 Compliance
- 2.06A Reporting
- 2.07 Minimum Capital and Financial Requirements of Clearing Members Incorporated in Singapore
- 2.07A Early Warning Financial Requirements of Clearing Members Incorporated in Singapore
- 2.07B Notification Requirements of Clearing Members Incorporated in Singapore
- 2.07C Qualifying Letter of Credit
- 2.08 Minimum Capital and Financial Requirements of Clearing Members Incorporated Outside Singapore
- 2.08A Early Warning Financial Requirements of Clearing Members Incorporated Outside Singapore
- 2.08B Notification Requirements of Clearing Members Incorporated Outside Singapore
- 2.08C Qualifying Letter of Credit
- 2.09 Special Reserve Fund for General Clearing Members Incorporated in Singapore
- 2.10 Special Reserve Fund for General Clearing Members Incorporated Outside Singapore
- 2.11 Other Financial Requirements
- Rights and Obligations of Clearing Members
- 2.12A [Rule has been deleted.]
- 2.13 Duties and Responsibilities of Clearing Members
- 2.13A Business Continuity Requirements
- 2.14 Required Records and Reports
- 2.15 Audit Requirements
- 2.16 [Rule has been deleted.]
- 2.17 Limit on Lending to Directors, Officers or Employees of General Clearing Members
- 2.18 Segregation of Customer's Money, Securities and Property
- 2.19 Omnibus Account
- 2.20 Limits of Positions
- 2.20A Accumulation of Positions
- 2.20B Withholding of Profits from Overtrading
- 2.20C Position Accountability
- 2.21 Covenant
- 2.22 Change or Intended Change
- 2.23 Notification of Reduction in Capital and Under-Segregation
- 2.24 Appointment of Chief Executive Officer, Deputy Chief Executive Officer
- 2.25 Appointment of Auditors
- 2.26 Special Call for Financial Statements
- 2.27 Request for Information
- 2.28 Voluntary Suspension and Resignation
- 2.28A Clearing Arrangements with Trading Members
- 2.28B Fictitious Transactions Without Change in Ownership
- 2.29 [Rule has been deleted.]
- 2.30 [Rule has been deleted.]
- 2.31 [Rule has been deleted.]
- 2.32 [Rule has been deleted.]
- 2.33 [Rule has been deleted.]
- 2.34 Market Disorders, Impossibility of Performance, Emergency Situations and Powers
- 2.35 Force Majeure
- 2.35A [Rule has been deleted.]
- 2.36 Fees, Levies and Charges
- 2.37 Contract Clause
- 2.38 The Authority
- 2.39 Information and Reports
- 2.40 [Rule has been deleted.]
- 2.41 [Rule has been deleted.]
- 2.42 [Rule has been deleted.]
- 2.43 Notice to Clearing Members
- Chapter 3 Committees
-
Chapter 4 Enforcement of Rules
- 4.01 General Provision
- 4.01A Clearing House Investigations
- 4.01B Clearing House Inspections
- 4.02 [Rule has been deleted.]
- 4.02A Disciplinary Action
- 4.02B Composition by the Clearing House.
- 4.03 [Rule has been deleted.]
- 4.03A Disciplinary Committee Powers
- 4.04A Disciplinary Committee Proceedings
- 4.05A Appeals
- 4.06A Appeals Proceedings
- 4.07 [Rule has been deleted.]
- 4.07A Payment of Costs
- 4.08 [Rule has been deleted.]
- 4.08A Fine
- 4.09 [Rule has been deleted.]
- 4.09A Notification of Decision
- 4.09B Limitation of Liability
- 4.10 Classification of Offences
- 4.11 Continuous Offences
- 4.12 Major Offences
- 4.13 Minor Offences
- 4.14 [Rule has been deleted.]
- 4.15 Clearing Member's Indemnity
- 4.16 Complaints by Clearing Members
- 4.17 Supply of Information
- Chapter 5 Arbitration
-
Chapter 6 Delivery and Related Matters
- 6.01 General
- 6.02 [Rule has been deleted.]
- 6.02A Clearing House Merely Facilitates Delivery
- 6.03 Delivery Default May be Major Offence
- 6.04 Duty of Clearing Members to Mitigate Risk of Non-Delivery
- 6.05 Consolidation of Positions and Other Powers of the Clearing House
- 6.06 Passing of Property and Risk
- 6.07 Deliveries Involving Clearing House as Escrow Agent and Treatment of Performance Deposits, Other Payments and Other Escrow Assets
- 6.07A Clearing House May Appoint A Facilitator Agent
- 6.08 Time is of the Essence for Periods in the Relevant Contract Specifications
- 6.09 Alternative Delivery Procedure
- 6.10 Post Arbitral Award Procedures
- 6.11 Precedence of Rules
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Chapter 7 Clearing and Margins
- 7.01 Clearing House
- 7.02 Limitation of Liability
- 7.02A Registration of Non-Relevant Market Transactions, NLT transactions, EFP transactions and EFS transactions
- 7.02AA [Rule has been deleted.]
- 7.02B Withdrawal of Classes of Non-Relevant Market Contracts for Clearing by the Clearing House
- 7.03 [Rule has been deleted.]
- 7.03A Collateral
- 7.04 Substitution
- 7.04A Registration of an NLT, EFP or EFS in Respect of Contracts Listed on a Relevant Market
- 7.05 Open Positions/Open Contracts for Contracts Traded on the Exchange/Any Relevant Market and Non-Relevant Market Contracts
- 7.05A [Rule has been deleted.]
- 7.06 Offset by Liquidation
- 7.07 Offset not Automatic
- 7.07A Invoicing Back of Open Positions to the Clearing House
- 7.08 False Information
- 7.09 Position Change Sheets
- 7.10 Recap Ledger
- 7.11 Daily Settlement Price
- 7.11A Final Settlement Price of Contracts Traded on the Exchange/Any Relevant Market and Non-Relevant Market Contracts
- 7.11B [Rule has been deleted.]
- 7.12 Settlement to Settlement Price Daily
- 7.13 Settlement Variation for Contracts Cleared by the Clearing House
- 7.13A [Rule has been deleted.]
- 7.14 Net Debit Balances and Credit Balances
- 7.15 [Rule has been deleted.]
- 7.15A [Rule has been deleted.]
- 7.15B [Rule has been deleted.]
- 7.16 Reports of Large Positions
- 7.17 Speculative Long and Short Positions; Same Contract Month
- 7.18 Right to Set-Off
- 7.19 Clearing House Margins
- 7.20 Margin Amounts
- 7.21 [Rule has been deleted.]
- 7.22 Margins of Third Parties
- 7.22A Inter-Exchange Cross Margining
- 7.23 Emergency Margins and Advance Call for Settlement
- 7.24 Failure to Comply with Emergency Orders
- Miscellaneous
- 7.26 Fines for Errors, Delays and Omissions
- 7.27 Transfers of Trades
- 7.28 Inter-Clearing House Transfers of Positions
- 7.29 [Rule has been deleted.]
- 7.30 Applicable Customer Accounts
- 7.31 Affiliate Account
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Chapter 7A Suspension and Default
- 7A.01 Suspension of Clearing Members
- 7A.01A Events of Default
- 7A.01B [Rule has been deleted.]
- 7A.01C Trigger Events under the Connect
- 7A.02 Open Positions of Defaulted /Suspended Clearing Members
- 7A.02A Open Positions of Connect Broker and Clearing Members holding Positions in Connect Contracts
- 7A.03 Open Contracts of Other Suspended or Expelled Clearing Members
- 7A.04 Effect of Suspension or Expulsion
- 7A.05 Protection of Clearing House
- 7A.06 Clearing Fund
- 7A.06A Connect Layer
- 7A.07 Default of the Clearing House
- Chapter 7B Payments
- Chapter 8 Mutual Offset System
- Chapter 9 Definitions and Interpretation
- Chapter 10 Transitional Provisions
- Directives
-
Practice Notes
- Practice Note 2.13A — Business Continuity Requirements
- Practice Note 2.28A Procedures to Suspend Qualification of a Trading Member
- Practice Note 2.28A.1.3 — Pre-Execution Checks
- Practice Note 2.28A.1.6 — Conflicts of Interest
- Practice Note 6.07A — Facilitator Agent
- Practice Note 7.11.1.1 — Daily Settlement Procedures for Eligible Non-Relevant Market Contracts
- Practice Note 7.11.1.2 — Daily Settlement Price Methodology
- Practice Note 7.22 — Margins of Third Parties
- Practice Note 7.23 — Additional Margins
- Practice Note 7.30 — Enhanced Customer Collateral Protection
- Practice Note 7A.02.1.5.c.ii [Rule has been deleted.]
- Practice Note 7A.01A.2A — Apportionment of Clearing Fund Contributions across Contract Classes and across OTCF auctions [This Practice Note has been deleted.]
- Practice Note 7A.01A.2B.2 — Apportionment and application of Clearing Fund Contributions when one or more auctions are held in respect of a Contract Class
- Practice Note 7A.01B — Illustrations of the Application of Clearing Member's Clearing Fund Deposit and Further Assessment Amounts in respect of OTCF Contracts [This Practice Note has been deleted.]
- Practice Note 9.01.1 — OTCF Product Groups [This Practice Note has been deleted.]
- Appendices
- Schedules