Membership

All entities who propose to become members of the Exchange and SMXCC need to fulfil stringent capital requirements and other non-financial requirements set out by both the Exchange and SMXCC.

The Exchange shall offer the following class of memberships:

Non - Clearing Membership

• Broker Member (“BM”)
  A financial institution permitted to trade its own proprietary trades and on behalf of its customers.
• Remote Member (“RM”)
  Broker Member not incorporated in Singapore and operating overseas.
• Trade Member (“TM”)
  An individual, partnership, or corporation permitted to trade for its own account.

Members who wish to clear transactions of their own or others will be required to become Clearing Members of SMXCC. The membership classes are as follows:

Clearing Membership

• General Clearing Member (“GCM”)
  A Member of the Exchange who wishes to trade, clear and settle trades for himself and his customers, including any other Broker Members, Remote Members or Trade Members.
• Special Clearing Member (“SCM”)
  A bank or any financial institution which does not trade but provides clearing and settlement services to its customers, including any other Broker Members, Remote Members or Trade Members.