Singapore legislation
Regulation 9
Regulation 9
Exemption for market-makers
Subregulation 1
A market-maker who makes a short sell order on an approved exchange in that capacity is exempt from section 137ZJ(1) of the Act in respect of that short sell order.
Subregulation 2
In paragraph (1), a “market‑maker” means a person who —
enters into transactions for the purchase or sale of any capital markets products, or class of capital markets products, specified by the approved exchange, for the person’s own account;
regularly publishes competitive bid price and offer price quotations in respect of any capital markets products, or class of capital markets products, specified by the approved exchange; (c)is ready, willing and able to effect transactions at the prices mentioned in sub‑paragraph (b) with other persons in respect of the capital markets products or the class of capital markets products; and
is appointed, approved, registered or recognised by an approved exchange as a market‑maker in respect of any capital markets products, or class of capital markets products, specified by the approved exchange.