Singapore legislation
Regulation 19
of Securities and Futures (Licensing and Conduct of Business) Regulations
Regulation 19
Customer’s money deposited with approved clearing house, etc.
Despite regulations 16 and 17, the holder of a capital markets services licence to deal in capital markets products may deposit moneys received on account of its customer, other than moneys received on account of a retail customer in respect of OTC derivatives contracts, with an approved clearing house, a recognised clearing house, a member of an organised market or a member of a clearing facility —
for the purpose of entering into, facilitating the continued holding of a position in, or facilitating a transaction in, any capital markets products on behalf of the customer on the organised market;
for the purpose of the clearing or settlement of any capital markets products on the clearing facility for the customer; or
for any other purpose specified under the business rules and practices of the approved clearing house, recognised clearing house, organised market or clearing facility, as the case may be.