Regulatory Notice 3.3.3 — Disclosure Obligations for Trading Members Regarding Dairy Contracts with New Zealand Clients
Summary
SGX RegCo issued Regulatory Notice 3.3.3 requiring Trading Members to make specific disclosures to New Zealand Clients before accepting orders to trade in Dairy Contracts. The disclosure must address four key areas: the Exchange's principal place of business in Singapore, Singapore's regulatory jurisdiction, differences in investor rights and compensation arrangements compared to New Zealand markets, and currency exchange rate risks for New Zealand investors.
What changed
SGX RegCo added Regulatory Notice 3.3.3 to the Futures Trading Rules, establishing mandatory pre-trade disclosure obligations for Trading Members serving New Zealand Clients in Dairy Contracts. The rule requires disclosure of four specific matters: the Exchange's principal place of business in Singapore, that SGX is regulated under Singapore's regulatory regime, potential differences in investor rights and compensation arrangements compared to New Zealand markets, and currency exchange rate risks.
Trading Members subject to this rule must update their onboarding procedures and client disclosure processes to ensure compliance before accepting any orders from New Zealand Clients for Dairy Contracts. Non-compliance may result in regulatory action by SGX RegCo as the primary regulator of the Exchange's markets.
What to do next
- Trading Members must disclose significant differences between trading derivatives on SGX and New Zealand-based markets before accepting first order from New Zealand Clients
- Disclosures must cover Exchange's Singapore location, regulatory regime, investor rights/compensation differences, and currency exchange rate risks
Archived snapshot
Apr 16, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
SGX Rulebooks Link copied to clipboard Print Custom Print Link
Futures Trading Rules Regulatory Notices
Regulatory Notice 3.3.3 — Disclosure Obligations in relation to trading in Dairy Contracts
| Issue Date | Cross Reference | Enquiries |
| Added on
22 November 2021. | Rule 3.3.3 | Please contact Member Supervision Officers or email asksgx@sgx.com. |
1 Introduction 1.1 In this Regulatory Notice, unless the context requires otherwise, the following capitalised terms shall have the meanings set forth below:
“ Dairy Contracts ” refers to Contracts in relation to dairy products which are listed and traded on the SGX-DT Market.
“ New Zealand Client ” refers to any Person, who is resident, incorporated or domiciled in New Zealand. 1.2 This Regulatory Notice sets out additional details which a Trading Member must disclose to its Customer who is a New Zealand Client in relation to trading in Dairy Contracts. 2 Disclosure to Customers 2.1 Before a Trading Member accepts the first order from a Customer who is a New Zealand Client to trade in any Dairy Contract on the Exchange, the Trading Member must disclose to the Customer who is a New Zealand Client the significant differences between trading derivatives on the Exchange and trading derivatives on a New Zealand-based market. 2.2 The matters that must be disclosed include, but are not limited to, the following: (a) the Exchange’s principal place of business is located in Singapore; (b) the Exchange is regulated primarily under the regulatory regime of Singapore; (c) the rights and remedies of, and compensation arrangements for, investors who acquire products offered on the Exchange may differ from the rights and remedies of, and compensation arrangements for, investors who acquire products offered on a New Zealand-based market; and (d) New Zealand investors who acquire products offered on the Exchange may be subject to the effects of changes in currency exchange rates.
Named provisions
Related changes
Get daily alerts for SGX RegCo
Daily digest delivered to your inbox.
Free. Unsubscribe anytime.
About this page
Every important government, regulator, and court update from around the world. One place. Real-time. Free. Our mission
Source document text, dates, docket IDs, and authority are extracted directly from SGX RegCo.
The summary, classification, recommended actions, deadlines, and penalty information are AI-generated from the original text and may contain errors. Always verify against the source document.
Classification
Who this affects
Taxonomy
Browse Categories
Get alerts for this source
We'll email you when SGX RegCo publishes new changes.
Subscribed!
Optional. Filters your digest to exactly the updates that matter to you.