Whole Section

  • 5A.3 — Allocation of trades to Position Accounts

    • 5A.3.1

      Each Clearing Member shall allocate the position 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, and in any event no later than such time as may be required for timely and orderly settlement of such trade into the intended Securities Account.

      Refer to Practice Note 5A.3.1, 5A.3.4.

      Added on 1 July 20161 July 2016.

    • 5A.3.2

      A Customer's Position Account must only be used for that Customer's positions. However, a Clearing Member may sub-allocate a position carried in a Customer's Position Account (the "originating Position Account") to another Position Account (the "destination Position Account"), provided that:

      (a)(i) such sub-allocation is in accordance with the instructions of both the account holders of the originating Position Account and destination Position Account (or person(s) authorized to instruct on their behalf); and (ii) the Clearing Member receives the booking instruction only after the position has been allocated to the originating Position Account; or
      (b) such sub-allocation is made to remedy an error.

      Added on 1 July 20161 July 2016.

    • 5A.3.3

      A Position Account may be used to hold positions for different Customers, provided that such positions are allocated out in accordance with the requirements provided in Rules 5A.3.1 and 5A.3.2.

      Added on 1 July 20161 July 2016.

    • 5A.3.4

      For cases in which an SGX-ST Trading Member is warehousing its customer's trades, the Clearing Member shall ensure that no trades are warehoused for more than one Market Day, unless under exceptional circumstances. In such cases, the Clearing Member must document the reasons for the extension of time.

      Refer to Practice Note 5A.3.1, 5A.3.4

      Amended on 1 July 20161 July 2016 and 10 December 201810 December 2018.