Regulatory Notice 8.3 — Closing Price of Prescribed Instrument1. Introduction1.1 Rule 8.3 states that the closing price of a Prescribed Instrument shall be calculated in accordance with the relevant formula and procedure applicable to each Prescribed Instrument, as determined by SGX-ST from time to time. In arriving at such formula and procedure, SGX-ST may take into account factors, including but not limited to:(a) the last traded price;(b) prevailing bids and offers during the trading phase and/or closing routine; and/or(c) price data derived from pricing models selected or established by SGX-ST from time to time.1.2 This Regulatory Notice sets out the formula and procedure that SGX-ST may use to determine the closing price of Prescribed Instruments as contemplated in the above Rule.1.3 Unless the context requires otherwise, the following terms shall have the meanings ascribed to them in Regulatory Notice 8.2.1:(a) "Closing Routine"; and(b) "Trading Phase".2. Closing price of Prescribed Instruments2.1 SGX-ST may use any of the following as the closing price of a Prescribed Instrument for a Market Day:(a) the single price at which orders are matched at the end of the Closing Routine as set out in Regulatory Notice 8.2.1;(b) the last traded price that occurred in the Closing Range;(c) a price determined by SGX-ST taking into account the bid and offer prices present in the Trading System during the Closing Range;(d) the last traded price that occurred prior to the Closing Range;(e) the closing price of the previous Market Day; or(f) price data derived from pricing models selected or established by SGX-ST from time to time.2.2 The Closing Range, for the purposes of this Regulatory Notice, shall be the last 15 minutes of the Trading Phase, or such other time as may be determined by SGX-ST and notified to the market from time to time.2.3 Where SGX-ST deems it necessary or desirable for ensuring a fair, orderly and transparent market or the integrity of the market, or for proper management of systemic risk in the market, SGX-ST may use an alternative formula and/or procedure to determine the closing price of a Prescribed Instrument.2.3 SGX-ST shall, as soon as practicable, notify the Authority of any action taken by SGX-ST pursuant to paragraph 2.3 of this Regulatory Notice.
Appendix A to Regulatory Notice 8.3
1 Exchange traded funds 2 Daily leverage certificates
Added on 9 November 2020.