The key features of the revised policy are as follows:
(1) All error trades must be reported to SGX within 30 minutes of occurrence;
(2) For error trades that Trading Members wish to have reviewed, Trading Members have to refer the error trades to SGX within 60 minutes of occurrence. SGX will only review error trades involving a trade loss of S$5,000 and above, for a review fee of $500; and
(3) For error trades involving structured products, SGX will introduce a no-cancellation range, determined as the wider of:
(i) +/- 20 minimum bid sizes from the pre-determined Reference Price1 of the structured product; or
(ii) +/- 25% of the Reference Price.
Structured products include structured warrants and certificates admitted for listing under Chapter 5 of the Singapore Exchange Securities Trading (SGX-ST) Listing Manual.