9.01.1

Past version: Effective up to 15 Jul 2012

Unless the context otherwise requires, the following words and expressions shall be defined as follows:—

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Term Meaning
A
"Act" means the Companies Act, Chapter 50, or any statutory modification, amendment or re-enactment thereof for the time being in force or any and every other act which may replace the Companies Act and any reference to any provision of the Act is to that provision as so modified, amended or re-enacted or contained in any such subsequent successor act.
"acceptable government securities" — means securities issued by a government with a Moody's Investors Service sovereign rating of at least Aaa, Standard & Poor's Corporation sovereign rating of at least AAA or Fitch, Inc sovereign rating of at least AAA.
"adjusted net head office funds" — when used in reference to:—
a. a General Clearing Member or Direct Clearing Member incorporated outside Singapore, shall bear the meaning ascribed thereto in paragraph 2 of the Second Schedule of the SFR (Financial and Margin Requirements); and
b. a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.c, shall bear the meaning ascribed thereto in paragraph 2 of the Second Schedule of the SFR (Financial and Margin Requirements), less the capital requirements for its banking business.
"ADP Notice" shall have the meaning ascribed to it under Rule 6.09.2.
"Aggregate Clearing House Contributions" shall have the meaning ascribed to it in Rule 7.15B.2.
"aggregate indebtedness" shall have the meaning ascribed thereto under Regulation 2 of the SFR (Financial and Margin Requirements).
"aggregate resources" — when used in reference to:—
a. a Clearing Member incorporated in Singapore, means its financial resources (including qualifying letters of credit referred to in Rule 2.07C) less its total risk requirement;
b. a General Clearing Member or Direct Clearing Member incorporated outside Singapore or a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.c, means its adjusted net head office funds (including qualifying letters of credit referred to in Rule 2.08C) less its total risk requirement; and
c. a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.a or b, means its cash and/or acceptable government securities deposited with the Clearing House or CDP pursuant to Rule 2.08.1B.1 less its total risk requirement.
"Alternative Delivery Procedure" means delivery of the underlying Commodity under different terms and conditions from the Delivery Rules relating to the relevant Contract.
"Asset(s)" shall have the meaning ascribed to it at Rule 7.20.1.
"Authorised Clearing Member" shall have the meaning ascribed to it in Rule 8.03.1.2A.
"Authority" means the Monetary Authority of Singapore, a body corporate established under the Monetary Authority of Singapore Act, Chapter 186.
B
"Baltic Exchange" means the Baltic Exchange Limited or its successor.
"Bank Clearing Member" means a Clearing Member who has such rights and obligations as set out in Chapter 2. For the avoidance of doubt, a reference to a Bank Clearing Member incorporated outside Singapore shall refer to the branch located in Singapore, of a parent bank incorporated outside Singapore.
"base capital" shall have the meaning ascribed thereto under Regulation 2 of the SFR (Financial and Margin Requirements).
"Board" means the Board of Directors for the time being of the Clearing House or such number of them as have authority to act for the Board.
"Business Day" — Except as otherwise specified in the terms of any relevant Contract with respect to such Contract and the rights and obligations flowing therefrom, any day on which the Clearing House is open for business.
"business governed by this Rules" or "operations governed by this Rules" when used in reference to:—
a. a Bank Clearing Member incorporated in Singapore or a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.c, shall mean its business or operations (whichever is applicable) involving all derivatives and securities contracts traded on any exchange and OTC contracts novated to any clearing facility; and
b. a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.a or b, shall mean its business or operations (whichever is applicable) involving derivatives and securities contracts traded on the Exchange and SGX-ST and OTC contracts novated to the Clearing House and CDP.
"Buyer" shall:
a. for the purpose of Rule 5.01.2 and Chapter 6, refer to the buying party who is responsible for taking delivery of the underlying Commodity under a Contract or delivery contract through the Buying Member, unless such Buyer is itself the Buying Member.
b. for the purpose of Rule 7.02A, where it is not the Clearing Member itself, refer to a party for whom the Clearing Member maintains an account and who is a buyer in an OTC Transaction and otherwise shall refer to the Clearing Member itself. Where the Buyer is the Clearing Member itself, references in Rule 7.02A to the Clearing Member "acting for a Buyer" shall be correspondingly read as if the words "acting for a Buyer" were superfluous.
"Buying Member" for the purposes of Chapter 6, shall refer, if it is not itself the Buyer with respect to any Contract or delivery contract, to the Clearing Member who clears for the Buyer or, with respect to any specific obligation to be performed by such Clearing Member, such other person as this Rules may provide in lieu of the Buying Member.
C
"CDP" means The Central Depository (Pte) Limited.
"chief executive officer" shall mean any person, by whatever name described, who is in the direct employment of, or acting for or by arrangement with, the Clearing Member and is principally responsible for the management and conduct of the business of the Clearing Member.
"Circular" shall have the meaning ascribed to it in Rule 1.02.2.
"clearing" — The process administered by the Clearing House by which all trades executed on or subject to the rules of the Exchange or any Relevant Market or executed pursuant to any OTC Transaction are confirmed and settled daily until each is liquidated by offset or until delivery takes place, or settled by such other means as provided in this Rules.
"Clearing Fund" shall have the meaning ascribed to it in Rule 7.03.2.2.
"Clearing House" means the Singapore Exchange Derivatives Clearing Limited by whatever name called or its successor and assigns and where the context so requires such authorised personnel acting in its name.
"Clearing House Contribution" shall have the meaning ascribed to it in Rule 7.15B.2.a.
"Clearing House Examiner" shall have the meaning ascribed to it in Rule 4.01A.5.
"Clearing Member" means a corporation granted or admitted to be a member of the Clearing House pursuant to this Rules and shall include a General Clearing Member, a Direct Clearing Member and a Bank Clearing Member.
"Clearing Membership" means membership of the Clearing House pursuant to this Rules.
"Collective Customer" shall have the meaning ascribed to it in Rule 2.20.3.1.
"Collective House Accounts" shall have the meaning ascribed to it in Rule 2.20.3.2.
"Commodity" includes:—
a. any "commodity" as defined in the SFA from time to time;
b. any financial instrument;
c. gold, freight, any class of oil or any other physical commodity; and
d. any commodity as may be specified by the Clearing House from time to time.
"Contract" means the rights and obligations incurred through:
a. unless otherwise excluded by the context, a trade on the Exchange or any Relevant Market which may be satisfied by offset or by delivery or such other means as provided in the rules of the Exchange or the Relevant Market or the relevant Contract Specifications (as the case may be) as novated to the Clearing House pursuant to Rule 7.04; or
b. unless otherwise excluded by the context, a trade pursuant to an OTC Transaction which may be satisfied by offset or by delivery or such other means as provided in this Rules or the relevant Contract Specifications as novated to the Clearing House pursuant to Rule 7.04; or
c. unless otherwise excluded by the context, a trade pursuant to an OTCF Transaction which may be satisfied by any means provided for in this Rules or the relevant OTCF Contract Terms as novated to the Clearing House pursuant to Rule 7.04; and
"contract" means the rights and obligations incurred through any trade or transaction whether or not through a market, and if through a market, whether or not the same is a Relevant Market and whether or not it relates to a Commodity or a futures contract as defined in the SFA.
"Contract Class" or "Contract Classes" shall have the meaning ascribed to it in Rule 7.03.4.
"Contract Month" unless the relevant Contract Specifications otherwise provides, means the specified month within which a Contract matures and can be settled by delivery.
"Contract Specifications" means the commercial and technical terms of a Contract which is listed for trading on the Exchange or any Relevant Market or an OTC Contract, including the Contract size, Contract Month, trading hours, Underlying, exercise price, minimum price fluctuation, Last Trading Day, settlement basis and method of exercise.
"counterparty risk requirement" shall have the meaning ascribed to it in paragraph 3 of the Third Schedule of the SFR (Financial and Margin Requirements).
"Coupon Settlement Price" means the price at which each coupon payment for an OTCF Contract relating to an interest rate swap is settled pursuant to any procedure prescribed by the Clearing House or the relevant OTCF Contract Terms, as the case may be.
"Corporation" means a corporation within the meaning of the Act.
"Customer" means a person whose account is carried on the books of a Clearing Member except where such person is:—
a. the Clearing Member itself with respect to the proprietary account of the Clearing Member;
b. a director, officer, employee or representative of the Clearing Member; and
c. related corporation of the Clearing Member with respect to accepted instructions to deal for an account belonging to, and maintained wholly for the benefit of, that related corporation.
A "Customer Account" is an account carried on the books of a Clearing Member for a Customer.
A "Customer Contract" is a Contract of a Customer.
D
"delivery contract" means the contract which arises directly between such parties as specified in the relevant Contract Specifications, upon the re-novation process referred to in Rule 6.02A.7.
"delivery default" shall have the meaning ascribed to it in the relevant Contract Specifications or otherwise refer to the failure to perform any material act in relation to the delivery of a Commodity in accordance with the Contract Specifications.
"Delivery Month" unless the relevant Contract Specifications otherwise provides, means the specified month in which the delivery period of a Contract subject to physical delivery, begins.
"Delivery Obligations" means all delivery obligations of a Seller or Buyer or clearing member of any Relevant Market, under a Contract or delivery contract.
"Delivery Rules" shall have the meaning ascribed to it in Rule 6.01.1.
"depositing party" shall have the meaning ascribed to it in Rule 6.07.1.
"Designated Futures Contract" means a futures contract including a futures option contract, which is traded on Participating Markets and which has been designated pursuant to the terms of the agreement between the Clearing House and the Participating Markets in respect of the Mutual Offset System as a futures contract or option contract eligible for trading under the Mutual Offset System.
"Direct Clearing Member" means a Clearing Member who has such rights and obligations as set out in Chapter 2.
"Directive" shall have the meaning ascribed to it in Rule 1.02.2.
"Director" means any person acting as a Director of the Clearing House and any person duly appointed and acting for the time being as an alternate.
"disputes" shall have the meaning ascribed to it in Rule 5.01.1.
E
"Eligible OTC Contract" means any OTC Contract accepted by the Clearing House for clearing (subject to this Rules), as prescribed by the Clearing House from time to time.
"Eligible OTCF Contracts" means any OTCF Contract accepted by the Clearing House for clearing (subject to this Rules), as prescribed by the Clearing House from time to time.
"Eligible OTC Transaction" shall have the meaning ascribed to it in Rule 7.02A.1.1.
"Eligible OTCF Transaction" shall have the meaning ascribed to it in Rule 7.02AA.1.
"Escrow Asset" shall have the meaning ascribed to it in Rule 6.07.4.
"Exchange" means the Singapore Exchange Derivatives Trading Limited by whatever name from time to time called and shall include its successors and assigns.
F
"Facilitator Agent" shall have the meaning ascribed to it in Rule 6.07A.
"Final Settlement Price" means the price at which a Contract is settled at maturity, pursuant to any procedure prescribed by the Clearing House or the relevant Contract Specifications, as the case may be.
"financial resources" — when used in reference to:—
a. a General Clearing Member or a Direct Clearing Member incorporated in Singapore, shall bear the meaning ascribed thereto in paragraph 1 of the Second Schedule of the SFR (Financial and Margin Requirements); and
b. a Bank Clearing Member incorporated in Singapore, shall bear the meaning ascribed thereto in paragraph 1 of the Second Schedule of the SFR (Financial and Margin Requirements), less the capital requirements for its banking business.
"First Original OTCF Contract Counterparty" means the Original OTCF Contract Counterparty who was, before registration and substitution of the OTCF Contract, party to the corresponding OTCF Transaction as the party (a) paying the fixed rate or (b) being the reference currency buyer, as the case may be.
"Flat Rate" — as published by Worldscale Association (London) Limited and Worldscale Association (NY) Inc.
"Force Majeure" shall have the meaning ascribed to it in Rule 6.02A.10.4 or Rule 6.02A.10.5, whichever is applicable.
"free financial resources" shall have the meaning ascribed to it in Regulation 24 of the SFR (Financial and Margin Requirements).
"Further Assessment Amount" shall have the meaning ascribed to it in Rule 7.15A.
G
"General Clearing Member" means a Clearing Member who has such rights and obligations as set out in Chapter 2.
H
"Holiday" means any day as may be declared to be a holiday by the Clearing House from time to time.
"House Account" — A "House" account is an account which is not a Customer Account.
A "House Contract" is a Contract for:
a. the Clearing Member itself with respect to the proprietary account of the Clearing Member; or
b. a director, officer, employee or representative of the Clearing Member; or
c. a related corporation of the Clearing Member with respect to accepted instructions to deal for an account belonging to, and maintained wholly for the benefit of, that related corporation.
I
"Inter Dealer Broker" means a party who:
a. has signed an agreement with the Clearing House for the access to and use of the Trade Registration System; and
b. is designated by the Clearing House as eligible to submit OTC Transactions to the Clearing House on behalf of a Clearing Member pursuant to this Rules.
"initial margin" means the minimum amount required to be deposited by Third Parties (including Customers) with a Clearing Member:
a. for each open Contract as prescribed by the Clearing House;
b. for each open contract traded on an exchange other than the Exchange, as prescribed by the relevant exchange or clearing house;
c. for each new over-the-counter spot trade as prescribed under Rule 7.22.1A; or
d. in relation to any potential Flat Rate adjustment applicable to freight forward contracts for tanker voyage routes, as prescribed by the Clearing House.
"inter-exchange cross-margining" shall have the meaning ascribed to it in Rule 7.22A.1.
L
"Last Trading Day" means the last day during which trading may be conducted in a Contract prior to expiration pursuant to the relevant Contract Specifications.
"Leveraged Foreign Exchange Trading" shall have the meaning ascribed thereto under the SFA.
M
"maintenance margin" shall:
a. for the purpose of Rule 7.22, refer to the minimum balance which shall be maintained in a Third Party's (including a Customer's) account subsequent to the deposit of the initial margins:
i. for that Third Party's open positions in Contracts as prescribed by the Clearing House;
ii. for that Third Party's open positions in contracts traded on exchanges other than the Exchange, as prescribed by the relevant exchanges or clearing houses;
iii. for that Third Party's unsettled over-the-counter spot trades, as prescribed under Rule 7.22.1A; and
iv. in relation to any potential Flat Rate adjustment applicable to freight forward contracts for tanker voyage routes, as prescribed by the Clearing House for that Third Party.
b. for the purpose of the rest of this Rules, mean the minimum balance prescribed by the Clearing House which shall be maintained in a Clearing Member's account for that Clearing Member's open position in respect of each Contract.
"Market" shall have the meaning ascribed to "futures market" under the SFA while "market" shall include but not be limited to "Market".
"Mutual Offset System" means the system established pursuant to an agreement or agreements between Participating Markets and/or their respective clearing houses, whereby Authorised Clearing Members may establish or liquidate a position in respect of Designated Futures Contracts on either Participating Market through the execution of trades on the appropriate Participating Market in accordance with the terms thereof.
N
"net head office funds" means with respect to a corporation incorporated or established outside Singapore, the net liability of the Singapore branch to its head office and any other branches outside of Singapore. In the case of a Bank Clearing Member, its net liability shall include, without limitation, the liability of its Asian Currency Unit.
O
"Officers" shall have the meaning ascribed to it in Rule 6.07.4.
"Omnibus Account" — An account that as between the Clearing Member carrying it and the person who requested its opening and maintenance by the Clearing Member (the "Omnibus Account Holder") is to be regarded as an account carried for customers of the Omnibus Account Holder in the name of the Omnibus Account Holder. In this connection, the expression "customer of the Omnibus Account Holder" shall mean the person whom the Account Holder regards as being the person beneficially entitled to positions established under such account. A "Sub-Account" is an account maintained in or under an Omnibus Account.
"Original OTCF Contract Counterparties" means the First Original OTCF Counterparty and the Second Original OTCF Counterparty, and "Original OTCF Contract Counterparty"
"OTC Contract or Transaction" means a contract or transaction that is not listed or quoted for trading on the Exchange or any Relevant Market but shall not include any OTCF Contract or OTCF Transaction.
"OTCF Clearing Member Handbook" means the Over the Counter Financial Derivatives Clearing Member Handbook issued by the Clearing House prescribing the operational requirements, as well as explanatory information, for the clearing of over the counter financial derivatives (as the same may be varied, amended or supplemented from time to time).
"OTCF Contract or Transaction" means a contract or transaction that is not listed or quoted for trading on the Exchange or any Relevant Market and relates to a financial derivative.
"OTCF Contract Terms" means such terms as are applicable to each OTCF Contract as set out from time to time in the Appendices of the OTCF Clearing Member Handbook.
P
"Participating Market" means a Market and (where relevant) its clearing house which is/are parties to the Mutual Offset System and has assumed rights and obligations thereunder.
"Performance Deposit" means the amount, as prescribed in the relevant Contract Specifications, which a depositing party posts with the Clearing House, to secure the performance of a delivery contract. Such deposit shall be in cash or in the form of an irrevocable Letter of Credit or any other security in a form and issued by a bank acceptable to the Clearing House.
"person" means any individual or any corporation or association or body of persons, corporate or unincorporate.
"Platts" — a division of The McGraw-Hill Companies, Inc. or its successor.
a "position" or "open contract" or "open position" means any Contract which shall not have been liquidated by offset or delivery pursuant to this Rules or relevant Contract Specifications.
"Practice Note" shall have the meaning ascribed to it in Rule 1.02.2.
"Property/Properties" shall have the meaning ascribed to it at Rule 7.20.1.
Q
"Qualifying Date" means the close of business on the date immediately preceding the Transfer Date (as defined below).
"qualifying subordinated loan" shall have the meaning ascribed thereto in paragraph 4 of the Second Schedule of the SFR (Financial and Margin Requirements).
R
"related corporation" means a corporation within the meaning of the Act.
"Relevant Market" means any Market or any organisation (whether an exchange, association, corporation or otherwise) responsible for administering a futures, options, stock or other market whose contracts are cleared by, or novated (pursuant to a Mutual Offset System) to, the Clearing House including without limitation the Exchange and each Participating Market.
"Relevant Party" shall have the meaning ascribed to it in Rule 1.01.4.
"Relevant Periods" shall have the meaning ascribed to it in Rule 7.03.2.2.b.ii.
"relevant person" shall have the meaning ascribed to it in Rule 2.17.1.2.
"re-novation" shall have the meaning ascribed to it in Rule 6.02A.7.
"Rules" or "this Rules" means the rules of the Clearing House as set out herein and as amended or supplemented from time to time by the Clearing House which includes the Directives and the OTCF Clearing Member Handbook.
S
"Second Original OTCF Contract Counterparty" means the Original OTCF Contract Counterparty who was, before registration and substitution of the OTCF Contract, party to the corresponding OTCF Transaction as the party (a) paying floating rate or (b) being the reference currency seller, as the case may be.
"Security Deposit" means an amount required to be deposited with the Clearing House by each Clearing Member as security for its obligations to the Clearing House in accordance with Rule 7.15.
"Seller" shall,
a. for the purpose of Rule 5.01.2 and Chapter 6, refer to the selling party who is responsible for making delivery of the underlying Commodity under a Contract or delivery contract through the Selling Member, unless such Seller is itself the Selling Member.
b. for the purpose of Rule 7.02A, where it is not the Clearing Member itself, refer to a party for whom the Clearing Member maintains an account and who is a seller in an OTC Transaction and otherwise shall refer to the Clearing Member itself. Where the Seller is the Clearing Member itself, references in Rule 7.02A to the Clearing Member "acting for a Seller" shall be correspondingly read as if the words "acting for a Seller" were superfluous.
"Selling Member" for the purposes of Chapter 6, shall refer, if it is not itself the Seller with respect to any Contract or delivery contract, to the Clearing Member who clears for the Seller or, with respect to any specific obligation to be performed by such Clearing Member, such other person as this Rules may provide in lieu of the Selling Member.
"settlement price" means the official daily closing price of Contracts determined in accordance with Rule 7.11.
"Settlement Variation" means the dollar amount(s) due one (1) or more times in the course of each Business Day to or from the Clearing House to or from a Clearing Member calculated by the Clearing House with respect the relevant positions of a Clearing Member as determined by the Clearing House.
"SFA" or the "Securities and Futures Act" means the Securities and Futures Act 2005 or any subsidiary legislation promulgated under it or any statutory modification, amendment or re-enactment thereof for the time being in force, or any act or subsidiary legislation which may replace the SFA, and any reference to any provision of the SFA is to that provision as so modified, amended or re-enacted (or as contained in any subsequent act or legislation which may replace the SFA).
"SFR" means any regulation promulgated under the SFA or any statutory modification, amendment or re-enactment of such regulation for the time being in force, and any reference to any provision of the SFR is to that provision as so modified, amended or re-enacted (or as contained in any subsequent regulation which may replace the SFR).
"SFR (Financial and Margin Requirements)" means the Securities and Futures (Financial and Margin Requirements for Holders of Capital Markets Services Licences) Regulations or any statutory modification, amendment or re-enactment thereof for the time being in force, or any regulations which may replace the SFR (Financial and Margin Requirements), and any reference to any provision of the SFR (Financial and Margin Requirements) is to that provision as so modified, amended or re-enacted or as contained in any subsequent regulations which may replace the SFR (Financial and Margin Requirements).
"SFR (Licensing and Conduct of Business)" means the Securities and Futures (Licensing and Conduct of Business) Regulations or any statutory modification, amendment or re-enactment thereof for the time being in force, or any regulations which may replace the SFR (Licensing and Conduct of Business), and any reference to any provision of the SFR (Licensing and Conduct of Business) is to that provision as so modified, amended or re-enacted or as contained in any subsequent regulations which may replace the SFR (Licensing and Conduct of Business).
"SGX Board" means the board of directors for the time being of Singapore Exchange Limited or such number of them as have authority to act for the SGX Board.
"SGX-ST" shall mean Singapore Exchange Securities Trading Limited.
"SIAC" means the Singapore International Arbitration Centre.
"S$" means the Singapore Dollar or the lawful currency of Singapore.
T
"Third Party" means any third party maintaining an account with a Clearing Member and who is not privy to the substitution process between the Clearing House and a Clearing Member, pursuant to Rule 7.04, including without limitation the Customer and parties falling within exception (b) and (c) of the definition of "Customer" above defined and "Third Parties" shall refer to 2 or more of such third parties.
"time" — Except as otherwise specifically provided, any reference to time shall mean local Singapore time.
"Title Documents" shall have the meaning ascribed to it in the Trading Rules.
"total net equity" means the ledger balance of a Third Party's account, including adjustments to the account arising from unrealised gains or losses on open positions, and margins deposited by the Third Party.
"total risk requirement" —when used in reference to:—
a. a General Clearing Member or a Direct Clearing Member, shall bear the meaning ascribed thereto in paragraph 1 of the Third Schedule of the SFR (Financial and Margin Requirements);
b. a Bank Clearing Member incorporated in Singapore or a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.c, shall bear the meaning ascribed thereto in paragraph 1 of the Third Schedule of the SFR (Financial and Margin Requirements) except that such Bank Clearing Member shall only compute the total risk requirement for all Third Parties' and proprietary positions in derivatives and securities contracts traded on any exchange and OTC contracts (but shall not include any positions in OTCF Contracts in such computations) novated to any clearing facility; and
c. a Bank Clearing Member incorporated outside Singapore which has satisfied Rule 2.02B.1.11.a or b, shall bear the meaning ascribed thereto in paragraph 1 of the Third Schedule of the SFR (Financial and Margin Requirements) except that such Bank Clearing Member shall only compute the total risk requirement for all Third Parties' and proprietary positions in derivatives and securities contracts traded on the Exchange and SGX-ST and OTC contracts (but shall not include any positions in OTCF Contracts in such computations) novated to the Clearing House and CDP.
"Trade Registration System" means the software and systems provided by the Clearing House or any third party systems provider approved by the Clearing House to Clearing Members, Inter Dealer Brokers or such other party authorised by the Clearing Member and, where required under this Rules, approved by the Clearing House, for the purpose of registering and confirming Eligible OTC Transactions and/or Eligible OTCF Transactions with the Clearing House.
"Trading Day" means any day on which the Exchange is open for trading or deliveries.
"Trading Member" means an individual or corporation granted trading privileges by the Exchange as contemplated in the Trading Rules.
"Trading Rules" means the Trading Rules of the Exchange, as applied, interpreted or implemented by directives, regulatory notices and practice notes issued by the Exchange.
"Transfer Date" — 1 October 2000.
U
"Underlying" means any asset, Commodity, instrument, index, reference rate or any other thing whose price movement determines the value of the Contract.
"US$" — The United States Dollar or the lawful currency of the United States of America.
W
"writing" or "written" — Includes printing, lithography, typewriting and any other mode of representing or reproducing words in a visible form.

Amended on 27 March 200627 March 2006, 22 September 200622 September 2006, 26 January 200726 January 2007, 10 August 200710 August 2007, 25 August 200925 August 2009, 1 October 20091 October 2009, 22 February 201022 February 2010 and 10 May 201010 May 2010.