11.4 Error Trade Cancellations
SGX-ST may consider any relevant information, including but not limited to the following when deciding whether to cancel an Error Trade:(a) the difference between the price at which the trade was done and the preceding traded price of the security or futures contract;(b) the market liquidity in the security or futures contract at the time the trade occurred;(c) where the trade involves a futures contract, the trading behaviour of the underlying;(d) the monetary loss involved if the trade is or is not cancelled;(e) the difference between the time the erroneous order was entered and the time it was matched;(f) the number of counterparty customers involved;(g) whether the Force Key was used or any other error prevention alert was triggered when the erroneous order was entered into the Trading System;(h) the impact on the settlement process;(i) in the case of bonds, the rating, interest rate, coupon rate, maturity date and yield curve; and(j) the reason(s) given for the error.
Refer to Regulatory Notice 11.4.2 (d).
Refer to Regulatory Notice 11.4.2 (g).
The following procedures shall apply when SGX-ST is satisfied that an Error Trade has occurred:(a) inform the market of the Error Trade;(b) inform the market of the outcome of SGX-ST's review in relation to the Error Trade (i.e. whether the Error Trade remains valid or has been cancelled); and(c) notify both Trading Members of the outcome of SGX-ST's decision under Rule 11.4.1 in writing.