SGX Amends Default Management Process

Singapore Exchange (SGX) is amending the default management process for clearing members of The Central Depository Pte Ltd (CDP). This follows a November 2020 public consultation on the proposed changes which received strong market support.

The amendments will align CDP's default management practices with global default management practices which other clearing facilities employ. They will also make the current default management process more efficient and enable a speedier resolution of any default. This will consequently better preserve the integrity and robustness of the financial system from contagion risks should a clearing member default.

The changes will come into effect on 6 September 2021.

Days ago, SGX introduced new SPAC listing rules​.