Singapore legislation
Regulation 24
Regulation 24
Issues of contract confirmation
Subregulation 1
A commodity broker or spot commodity broker shall, not later than 2 business days after any transaction in commodity trading, furnish to his customers a written confirmation of each contract executed by the broker on behalf of that customer.
Subregulation 2
The written confirmation referred to in paragraph (1) shall include the following information:
the name or style under which the broker carries on his business, and the address of the principal place at which he carries on business;
where the broker is dealing as principal, a statement that he is acting as such;
the name and address of the person to whom the broker gives the confirmation;
the day on which the transaction took place and the name of the commodity market or spot commodity market in which the transaction took place;
an itemised list of the quantity or amount and the types of contracts that are the subject of the confirmation;
the price per unit of the contract concerned;
the amount of the consideration; and
the rate and amount of commission (if any) charged.
Subregulation 3
The requirement in paragraph (1) shall not apply if the customer is a commodity broker or spot commodity broker.