Singapore Exchange Regulation proposes changes to futures trading rules

The Singapore Exchange (OTC:SPXCY) Regulation (SGX RegCo) has proposed amendments to its Futures Trading Rules (FTR), Singapore Exchange Securities Trading (SGX-ST) rules, and Singapore Exchange Derivatives Clearing (SGX-DC) rules, seeking market feedback on the changes today, Thursday.

The proposed amendments to the FTR include changes to the admission and registration of Singapore Exchange Derivatives Trading members' representatives. The SGX RegCo aims to update these rules to align with new FTRs.

In addition, revisions are proposed for customer margining requirements. These changes will provide members more flexibility in managing margin cycles, customer funds, and collateral.

The SGX RegCo has also proposed updates to automated trading requirements. The intent behind these updates is to formalize key aspects of the Algorithmic Trading Regulatory Guide. Corresponding amendments have been made to the SGX-DC Clearing Rules reflecting these FTR changes governing customer collateral.

Changes are also proposed for the SGX-ST rules on automated trading and termination of membership, aligning them with new FTR amendments.

To improve clarity and readability, a clean version of the updated FTR has been provided by the SGX RegCo. Further details about these proposed changes are available in a consultation paper on the SGX website.

The SGX RegCo is requesting all comments on these proposed changes by October 11, 2023.

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