SGX RegCo

Audit Trails and Records Requirements for Members

SGX RegCo requires Members to maintain complete and accurate records and audit trails per Rule 2.6.4. Members must store data securely with proper back-ups at separate locations and correct quality or accuracy defects on an ongoing basis. Upon Exchange request, Members must produce complete audit trails from order receipt to settlement immediately for trades within 6 months, and within 2 business days for older records.

Adequacy of Systems Requirements for SGX Members

SGX RegCo issued Regulatory Notice 2.6.2A requiring Members to ensure their trading systems and Market connections operate properly with adequate and scalable capacity. The notice mandates comprehensive planning programs covering capacity estimates, system testing, stress testing, and periodic independent reviews. Members must also implement hiring and training policies for qualified technical personnel, with responsibility retained even under outsourcing arrangements.

SGX-DT Market Error Trade Policy Amendments

SGX RegCo amended Rule 4.1.8 governing the SGX-DT Market Error Trade Policy. The policy defines error trades as transactions resulting from erroneous bid/offer entries that were matched on the Trading System. The Exchange retains discretion to cancel or adjust error trades where the trade price falls outside the error trade price range, calculated against a reference price. No price adjustments apply to strategy transactions, implied orders from strategy matching, option trades (except designated Option Contracts when underlying cash market is open), or trades with prices relative to predefined reference points.

Regulatory Notice 3.3.3 — Disclosure Obligations for Trading Members Regarding Dairy Contracts with New Zealand Clients

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.

Regulatory Notice 3.2.3A — Reporting and Other Requirements for Dairy Contracts

SGX RegCo issued Regulatory Notice 3.2.3A establishing new reporting and other requirements for Dairy Contracts traded on the SGX-DT Market. The notice applies to Trading Members that are resident or incorporated in New Zealand, or that are not resident in New Zealand but offer Dairy Contracts to retail investors in New Zealand as defined under Section 6 of the New Zealand Financial Markets Conduct Act 2013. Affected Trading Members must report their circumstances to SGX within 14 calendar days of the effective date and ensure all Dairy Contract trades are cleared through dedicated disclosed accounts.