THE Singapore Exchange is amending on June 3, 2019 a raft of SGX rules, including those on securities trading and market practices, after receiving"generally supportive" feedback from a public consultation done in 2017.
In its statement on Friday, the exchange said:"The amended rules are more principles-based and are aimed at supporting members, dealers and remisiers, including new joiners, in their activities." It added that there has also been an overall reorganisation of the SGX Securities Trading Rulebook for more clarity.
The amended rules include less prescriptive regulations on customer account opening; members and remisiers having full flexibility over the structure of their relationship, including the quantum of security deposit; members no longer needing to obtain written acknowledgement from clients when they operate off-premises; doing away with the need for senior management's pre-approval for staff trading as long as procedures are in place to monitor staff trading and guard against misuse of...