Practice Note — Direct Market Access And Sponsored Access
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|Definitions and Interpretation||
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1.1 This Practice Note provides further guidance on the definitions of Direct Market Access and Sponsored Access in the Definitions and Interpretations section of the Rules.
2. Direct Market Access
2.1 DMA may take place in the following manner:—
(a) where the Trading Member permits its customer to use its member ID to transmit orders for execution directly to SGX-ST without using the Trading Member's infrastructure. This is known as Sponsored Access.
(b) where the Trading Member permits its customer to transmit orders electronically to the Trading Member's infrastructure (i.e., system architecture, which may include technical systems and/or connecting systems), where the order is in turn automatically transmitted for execution to a market under the Trading Member's member ID.