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Singapore Exchange Limited (SGX) is inviting public comments on the proposed derivatives clearing rules amendments to cater for a clearing arrangement between SGX and Singapore Commodity Exchange (SICOM).
The proposed clearing arrangement provides for members of SGX Derivatives Clearing Limited (SGX-DC Members) and their customers to use existing clearing and risk management facilities on SGX-DC in order to clear their trades executed on SICOM.
SGX-DC Members and their customers would enjoy greater clearing convenience under the proposed arrangement.
SICOM will be offering trading rights to all members of SGX Derivatives Trading Limited of good standing if they fulfill the requirements set down by SICOM.
The proposed amendments to the SGX-DC Clearing Rules include:
a. provisions to cater for situations where the buy and sell sides of a trade are separately cleared through SGX-DC and the SICOM Clearing House; and
b. empowering SGX-DC the ability to carry out safe and efficient clearing of SICOM positions.
The consultation paper, which explains the rationale and proposed amendments in detail, will be available on SGX website at www.sgx.com from today. Market participants and members of the public can forward their feedback and suggestions on the above proposed amendments from today until 17 June 2009 via email and either by post/courier or fax:
Email: rules@sgx.com
Post/Courier:
Singapore Exchange Limited
2 Shenton Way,
#19-00 SGX Centre 1,
Singapore 068804
Attn: Lum Wai Ling (Ms), Regulatory Policy
Fax: 6534 2207 / 6534 0092
