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SGX Settlement Process (To Reduce Failed Trades) (281210) |
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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 :
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. 