Application of Rules. 1.01.1 The Rules apply to all Members and operate as a binding contract between the SGX-DC and each Member and between a Member and any other Member and for the exclusive benefit only of the parties to such contract(s). Save as otherwise provided in the Rules, a person who is not a party to the Rules has no rights under the Contracts (Rights of Third Parties) Act (Chapter 53B) to enforce any terms of the Rules. 1.01.2 Except where the SGX-DC otherwise expressly agrees with or expressly commits itself to any party, the benefit of any performance by the SGX-DC of its obligations under: 1.01.2.1 the Rules, or 1.01.2.2 Directives, Practice Notes or Circulars issued by the SGX-DC, is restricted to only Members. The SGX-DC shall have no liability to any other party. In particular, the SGX- DC shall have no liability to any party affected or aggrieved by any alleged action or omission of the SGX- DC or any of the directors, officers or employees of the SGX-DC. 1.01.3 Without prejudice to Rule 1.01.2 or the benefit of any exclusion of liability in any contract or undertaking in favour of the SGX-DC, the SGX-DC accepts no duty to and therefore shall have no liability whatsoever to any Member or any Third Party in contract, tort, trust, as a fiduciary or under any other cause of action in respect of any damage, loss, cost or expense of whatsoever nature suffered or incurred by a Member or any Third Party, as the case may be, as a result of: 1.01.3.1 any suspension, restriction or closure of any market whose contracts are cleared by or novated to the SGX-DC (each a “Relevant Market”), whether for a temporary period or otherwise or as a result of a decision taken on the occurrence of a market emergency; 1.01.3.2 any failure by the SGX-DC or any Relevant Market to supply each other with data or information in accordance with arrangements from time to time established between and/or amongst any or all such persons; 1.01.3.3 the failure of any systems, communications facilities or technology supplied, operated or used by the SGX-DC; 1.01.3.4 the failure of any systems, communications facilities or technology supplied, operated or used by any Relevant Market; 1.01.3.5 the inaccuracy of any information supplied to and relied on by the SGX-DC (including but not limited to any error in the establishment of a settlement price made by a Relevant Market) or a Relevant Market; and 1.01.3.6 any event which is outside the reasonable control of the SGX-DC. 1.01.4 Without prejudice to Rule 1.01.2, and in addition to Rule 1.01.3, each Member should and must note that in connection with any index used or to be used by the SGX-DC for clearing and settlement or in connection or by reference therewith, none of the SGX-DC, its directors or officers or any relevant party that the SGX- DC may contract with for the supply of the index or information in relation thereto (each of the foregoing, a “Relevant Party”) assume any obligation or liability in connection with the clearing or settlement of any contract based on such index. Accordingly, none of the foregoing parties shall be in any way responsible for any losses, expenses or damages (in all cases direct or indirect) arising in connection with or referable to the clearing or settlement of any contract linked or referable to the said index, provided that nothing herein shall affect either obligations of the SGX-DC or its Members as parties clearing or settling in any contract so linked or referable. None of the Relevant Parties guarantee or warrant or undertake in any manner the accuracy or completeness of any such index or any information or data included in or referable to it. NONE OF THE RELEVANT PARTIES MAKES ANY WARRANTY OR GIVES ANY GUARANTEE OR UNDERTAKING, EXPRESS OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF, OR THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM THE USE OF ANY SUCH INDEX, OR ANY INFORMATION OR DATA INCLUDED IN OR REFERABLE TO IT IN CONNECTION WITH ANY CLEARING OR SETTLEMENT OF ANY CONTRACTS OR FOR ANY OTHER USE. NONE OF THE RELEVANT PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT TO ANY SUCH INDEX, OR ANY INFORMATION OR DATA INCLUDED IN OR REFERABLE TO ANY SUCH INDEX. 1.01.5 All Members are to note the foregoing and ensure that they are taking on membership in and/or will carry on as Members of the SGX-DC, transact and will transact by reference to the SGX-DC or any Contract or information or action referable to the SGX-DC or any of its directors or officers, only on the foregoing basis and will also ensure that they will not open or allow the continued operation of any account for any person with respect to any Contract unless such person has been notified of the foregoing provisions and has satisfied him/herself or itself that the same is acceptable and is accepted. (Definitions of Capitalised Expressions in the Rules: The capitalized expressions in the foregoing Rule 1.01 (which are not otherwise defined above) have the respective meanings as ascribed to them in the Rules.)
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Application of Rules. 1.01.1 The Rules apply to all Members and operate as a binding contract between the SGX-DC and each Member and between a Member and any other Member and for the exclusive benefit only of the parties to such contract(s). Save as otherwise provided in the Rules, a person who is not a party to the Rules has no rights under the Contracts (Rights of Third Parties) Act (Chapter 53B) to enforce any terms of the Rules.
1.01.2 Except where the SGX-DC otherwise expressly agrees with or expressly commits itself to any party, the benefit of any performance by the SGX-DC of its obligations under:
1.01.2.1 the Rules, or
1.01.2.2 Directives, Practice Notes or Circulars issued by the SGX-DC, is restricted to only Members. The SGX-DC shall have no liability to any other party. In particular, the SGX- SGX-DC shall have no liability to any party affected or aggrieved by any alleged action or omission of the SGX- SGX-DC or any of the directors, officers or employees of the SGX-DC.
1.01.3 Without prejudice to Rule 1.01.2 or the benefit of any exclusion of liability in any contract or undertaking in favour of the SGX-DC, the SGX-DC accepts no duty to and therefore shall have no liability whatsoever to any Member or any Third Party in contract, tort, trust, as a fiduciary or under any other cause of action in respect of any damage, loss, cost or expense of whatsoever nature suffered or incurred by a Member or any Third Party, as the case may be, as a result of:
1.01.3.1 any suspension, restriction or closure of any market whose contracts are cleared by or novated to the SGX-DC (each a “Relevant Market”), whether for a temporary period or otherwise or as a result of a decision taken on the occurrence of a market emergency;
1.01.3.2 any failure by the SGX-DC or any Relevant Market to supply each other with data or information in accordance with arrangements from time to time established between and/or amongst any or all such persons;
1.01.3.3 the failure of any systems, communications facilities or technology supplied, operated or used by the SGX-DC;
1.01.3.4 the failure of any systems, communications facilities or technology supplied, operated or used by any Relevant Market;
1.01.3.5 the inaccuracy of any information supplied to and relied on by the SGX-DC (including but not limited to any error in the establishment of a settlement price made by a Relevant Market) or a Relevant Market; and
1.01.3.6 any event which is outside the reasonable control of the SGX-DC.
1.01.4 Without prejudice to Rule 1.01.2, and in addition to Rule 1.01.3, each Member should and must note that in connection with any index used or to be used by the SGX-DC for clearing and settlement or in connection or by reference therewith, none of the SGX-DC, its directors or officers or any relevant party that the SGX- SGX-DC may contract with for the supply of the index or information in relation thereto (each of the foregoing, a “Relevant Party”) assume any obligation or liability in connection with the clearing or settlement of any contract based on such index. Accordingly, none of the foregoing parties shall be in any way responsible for any losses, expenses or damages (in all cases direct or indirect) arising in connection with or referable to the clearing or settlement of any contract linked or referable to the said index, provided that nothing herein shall affect either obligations of the SGX-DC or its Members as parties clearing or settling in any contract so linked or referable. None of the Relevant Parties guarantee or warrant or undertake in any manner the accuracy or completeness of any such index or any information or data included in or referable to it. NONE OF THE RELEVANT PARTIES MAKES ANY WARRANTY OR GIVES ANY GUARANTEE OR UNDERTAKING, EXPRESS OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF, OR THE RESULTS TO BE OBTAINED BY ANY PERSON OR ENTITY FROM THE USE OF ANY SUCH INDEX, OR ANY INFORMATION OR DATA INCLUDED IN OR REFERABLE TO IT IN CONNECTION WITH ANY CLEARING OR SETTLEMENT OF ANY CONTRACTS OR FOR ANY OTHER USE. NONE OF THE RELEVANT PARTIES MAKES ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT TO ANY SUCH INDEX, OR ANY INFORMATION OR DATA INCLUDED IN OR REFERABLE TO ANY SUCH INDEX.
1.01.5 All Members are to note the foregoing and ensure that they are taking on membership in and/or will carry on as Members of the SGX-DC, transact and will transact by reference to the SGX-DC or any Contract or information or action referable to the SGX-DC or any of its directors or officers, only on the foregoing basis and will also ensure that they will not open or allow the continued operation of any account for any person with respect to any Contract unless such person has been notified of the foregoing provisions and has satisfied him/herself or itself that the same is acceptable and is accepted. (Definitions of Capitalised Expressions in the Rules: The capitalized expressions in the foregoing Rule 1.01 (which are not otherwise defined above) have the respective meanings as ascribed to them in the Rules.)) ACKNOWLEDGEMENT OF RECEIPT OF NOTIFICATION ON RULE 1.01 OF THE CLEARING RULES OF THE SGX-DC This acknowledges that we have received a copy of the NOTIFICATION ON RULE 1.01 OF THE CLEARING RULES OF THE SGX-DC and the same is acceptable and accepted by us. NOTIFICATION ON RULE 1.6 OF THE FUTURES TRADING RULES OF The Singapore Exchange Derivatives Trading Limited (“SGX-DT”) requires that this notification on the following Rule 1.6 of its Futures Trading Rules (the “Rules”) be provided to you: Rule 1.6 of the Futures Trading Rules: Exclusion of Liability, Disclaimer of Warranties & Statutory Immunity
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Sources: Margin Trading Agreement