Singapore legislation
Section 30
Section 30
Listing of approved exchange on organised market
(1)
The securities or securities‑based derivatives contracts of an approved exchange must not be listed for quotation on an organised market that is operated by the approved exchange or any of its related corporations unless the approved exchange and the operator of the organised market have entered into such arrangements as the Authority may require —
for dealing with possible conflicts of interest that may arise from such listing; and
for the purpose of ensuring the integrity of the trading of the securities or securities‑based derivatives contracts (as the case may be) of the approved exchange on the organised market.
(2)
Where the securities or securities‑based derivatives contracts of an approved exchange are listed for quotation on an organised market operated by the approved exchange or any of its related corporations, the Authority may act in place of the operator of the organised market in making decisions and taking action, or require the operator of the organised market to make decisions and to take action on behalf of the Authority, on —
the admission of the approved exchange to, or the removal of the approved exchange from, the official list of the organised market; and
the granting of approval for the securities or securities‑based derivatives contracts (as the case may be) of the approved exchange to be, or the stopping or suspending of the securities or securities‑based derivatives contracts (as the case may be) of the approved exchange from being, listed for quotation or quoted on the organised market.
(3)
The Authority may, by written notice to the operator of the organised market —
modify the listing rules of the organised market for the purpose of their application to the listing for quotation or trading of the securities or securities‑based derivatives contracts of the approved exchange; or
waive the application of any listing rule of the organised market to the approved exchange.
(4)
Any approved exchange which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $200,000 and, in the case of a continuing offence, to a further fine not exceeding $20,000 for every day or part of a day during which the offence continues after conviction.