Whole Section

  • 3.7 Responsibility of Clearing Members for the Exchange Trades of Trading Members

    • 3.7.1

      Notwithstanding anything to the contrary in the SGX-ST Rules or the Clearing Rules, a Clearing Member shall be responsible and liable to CDP as a principal and not merely as a guarantor for the clearing and settlement of all Exchange Trades transacted by a Trading Member qualified by it. Trading Members shall have no right to clear and settle their Exchange Trades through CDP.

    • 3.7.2

      Notwithstanding any notice to the contrary, CDP shall be entitled to deem and treat the Exchange Trades transacted by a Trading Member qualified by a Clearing Member as the Exchange Trades of the qualifying Clearing Member for all purposes, including the purposes of these Clearing Rules and the Clearing Directives.

    • 3.7.3

      In these Clearing Rules, unless the context otherwise requires, a reference to the Exchange Trade of a Clearing Member shall include a reference to the Exchange Trade of any Trading Member qualified by the Clearing Member.