12. Commodity broker’s licence

Terms defined in s 2

• business rules

  business rules

  Defined · s 2

  “business rules”, in relation to a body corporate that maintains or proposes to maintain a commodity market, means the rules, regulations and by-laws, by whatever name called, governing the activities and conduct of —(a)the body corporate and its members;(b)its clearing house; and(c)other persons in relation to the commodity market,whether those rules, regulations or by-laws are made by the body corporate or are contained in the Memorandum and Articles of Association of the body corporate or altered or supplemented by the Board;

  Open s 2
• commodity broker

  commodity broker

  Defined · s 2

  “commodity broker” means a person who (whether as principal or agent) carries on the business of soliciting, or accepting orders, for the purchase or sale of any commodity by way of or relating to any commodity contract, whether or not the business is part of, or is carried on in conjunction with, any other business;

  Open s 2
• commodity market

  commodity market

  Defined · s 2

  “commodity market” means —(a)a market, whether in Singapore or elsewhere, at which commodity contracts are regularly made; or(b)an electronic system, whether operating in Singapore or elsewhere, through which trading in commodity contracts is carried out, but excludes an electronic facility which merely provides price or other information relating to commodity contracts (whether that facility is part of or carried on in conjunction with the provision of any other information not related to commodity contracts) and which does not permit users of the facility to channel orders for, execute transactions in, or make markets in, commodity contracts;

  Open s 2