Singapore legislation
Section 33
Section 33
General obligations
(1)
A recognised market operator must —
as far as is reasonably practicable, ensure that every organised market it operates is a fair, orderly and transparent organised market;
manage any risks associated with its business and operations prudently;
in discharging its obligations under this Act, not act contrary to the interests of the public, having particular regard to the interests of the investing public;
ensure that access for participation in its facilities is subject to criteria that are —
fair and objective; and
designed to ensure the orderly functioning of its organised market and to protect the interests of the investing public;
maintain business rules and, where appropriate, listing rules that make satisfactory provision for —
the organised market to be operated in a fair, orderly and transparent manner; and
the proper regulation and supervision of its members;
enforce compliance with its business rules and, where appropriate, its listing rules;
have sufficient financial, human and system resources —
to operate a fair, orderly and transparent organised market;
to meet contingencies or disasters; and
to provide adequate security arrangements;
maintain governance arrangements that are adequate for its organised market to be operated in a fair, orderly and transparent manner; and
ensure that it appoints or employs fit and proper persons as its chairperson, chief executive officer, directors and key management officers.
(2)
In subsection (1)(g), “contingencies or disasters” includes technical disruptions occurring within automated systems.