Dividend Chaser on Marking of SGX sell orders

GX-ST RULES ON MARKING OF SELL ORDERS
4.1 SGX-ST has introduced disclosure requirements to facilitate the marking of sell orders on its securities market. SGX-ST Trading Members may not enter a sell order unless the relevant market participant has informed them whether an order is a short sell order. Market participants are expected to split partial short orders, where they do not own the full quantity of securities to be sold, into two separate orders with the short sale order marked accordingly.
4.2 SGX-ST will publish aggregated short selling information, such as short sales volume and value, on the SGX website by the start of each trading day, based on short sale order data collected on the previous trading day.
4.3 As information on short selling may be taken into account by other market participants when making trading decisions, all market participants are expected to accurately disclose the nature of their sell orders for SGX-ST Trading Members’ compliance with SGX’s rules on short selling disclosure. SGX-ST will provide its Trading Members with a facility to correct erroneously marked sell orders.
4.4 Section 330(1) of the SFA provides that any person who, with intent to deceive, makes or furnishes, or knowingly and wilfully authorises or permits the making or furnishing of, any false or misleading statement or report to a securities exchange, futures exchange, designated clearing house or any officers thereof relating to dealing in securities shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both. In applying section 330(1) of the SFA, MAS will consider whether there was intent to deceive in respect of sell orders that had been inaccurately marked by SGX-ST Trading Members or inaccurately disclosed by market participants.