11.1 Cancellation of Contracts
A contract made on SGX-ST can only be cancelled in accordance with this Rule 11. A contract will not be cancelled merely because of the occurrence of one or more of the following circumstances:(a) delivery fails;(b) payment is not made on delivery; or(c) the share registrar refuses to register a transfer.
SGX-ST may cancel a contract in any of the following circumstances:(a) if the contract arises from an Error Trade (as defined in Rule 11.2.1) and:(i) the Trading Members to the contract agree to the cancellation; or(ii) SGX-ST is satisfied that the contract should be cancelled;(b) the contract arises from a Trade at Close and subsequent to the trade, SGX-ST:(i) invalidates the Closing Auction Price on which the trade is based; or(ii) determines an alternate closing price for the security;(c) if there is prima facie evidence of fraud or wilful misrepresentation in relation to the contract; or(d) in SGX-ST's opinion, it is desirable to cancel the contract to protect the financial integrity, reputation or interests of the markets established or operated by SGX-ST.
SGX-ST may impose any conditions it thinks appropriate for or in relation to the cancellation of a contract.
SGX-ST may reprimand or impose a fine not exceeding S$2,000 on a Trading Representative and/or the Trading Member who caused a contract to be cancelled under Rule 11.1.2.