SGX Revised Settlement Process (190110)

Please be informed that SGX has revised its settlement process and its penalty framework to reduce incidence of failed trades. Please refer to SGX announcements :

• SGX announces revised date to implement new settlement processes and penalty framework
  -12 Nov 2009
  
  
• SGX improves securities settlement to reduce incidence of failed trades - 9 Oct 2009

Buying-in Procedure

There has been changes to the Buying-in procedure. For details, please refer to this FAQ.

In particular, we would like to highlight the following changes:

Processing Fees for Buying-in

The processing fee imposed by SGX has been revised to S$75.00 (S$80.25 inclusive of GST).

Procurement when SGX is unable to complete the Buying-in

In the event that CDP requires Lim & Tan to procure the requisite securities arising from its unsuccessful Buying-in by Trade Date +7 or by the stipulated procurement period (whichever is earlier), a penalty of S$5,000 for each day (after the procurement period) a sell contract is overdue, shall be borne by the client.