PART II | TRANSITIONAL AND SAVINGS FOR PART II OF ACT |
| Deemed approved exchanges |
2.—(1) The following companies shall each be deemed to have been approved as an approved exchange under section 8(1) of the Act:| (a) | the company known as Singapore Exchange Securities Trading Limited, which was approved as a securities exchange under section 9 of the Act in force immediately before 1st July 2005; and | | (b) | the company known as Singapore Exchange Derivatives Trading Limited, which was approved as a futures exchange under section 9 of the Act in force immediately before 1st July 2005. |
| (2) Any condition or restriction imposed by the Authority, by notice in writing, on any of the companies referred to in paragraph (1) as a securities exchange or a futures exchange, as the case may be, and in force immediately before 1st July 2005 shall be deemed to be a condition or restriction to which its approval under section 8(1) of the Act is subject. |
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| Deemed application for recognition as recognised market operator |
| 3. An application for recognition as a recognised trading system provider made under section 36(1) of the Act in force immediately before 1st July 2005 that is pending approval immediately before that date shall be deemed to be an application for recognition as a recognised market operator made under section 7(2)(a) of the Act, and the fee which accompanied such application shall be deemed to be the application fee referred to under section 7(2)(b) of the Act. |
| Deemed recognised market operators |
4.—(1) The corporations known as —| (a) | Bloomberg Tradebook Singapore Pte Ltd; | | (b) | BrokerTec USA, LLC; | | (c) | Chicago Mercantile Exchange Inc.; | | (d) | Euronext Paris S.A.; | | (e) | Garban, LLC; | | (f) | LIFFE Administration and Management; | | (g) | MarketAxess Europe Limited; | | (h) | New York Mercantile Exchange, Inc.; | | (i) | The International Petroleum Exchange of London Limited; and | | (j) | TradeWeb Europe Limited, |
| which were each recognised as a recognised trading system provider under section 36 of the Act in force immediately before 1st July 2005 shall each be deemed to have been recognised as a recognised market operator under section 8(2) of the Act. |
| (2) Any condition or restriction imposed by the Authority, by notice in writing, on any of the corporations referred to in paragraph (1) as a recognised trading system provider and in force immediately before 1st July 2005 shall be deemed to be a condition or restriction to which its recognition under section 8(2) of the Act is subject. |
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| Deemed exempt market operators |
5.—(1) The corporations known as —| (a) | Australian Stock Exchange Limited; and | | (b) | DebtDomain Pte Ltd, |
| which were each exempted under section 5(5) of the Act in force immediately before 1st July 2005 shall each be deemed to have been declared as an exempt market operator under section 14(8) of the Act. |
| (2) Any condition or restriction imposed by the Authority, by notice in writing, on any of the corporations referred to in paragraph (1) and in force immediately before 1st July 2005 shall be deemed to be a condition or restriction to which its exemption under section 14(8) of the Act is subject. |
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| Directions to securities exchange and futures exchange |
6.—(1) Any written direction issued by the Authority to Singapore Exchange Securities Trading Limited as a securities exchange and in force immediately before 1st July 2005 shall be deemed to be a direction issued to it as an approved exchange under section 46(1) of the Act.| (2) Any direction issued by the Authority to Singapore Exchange Derivatives Trading Limited as a futures exchange and in force immediately before 1st July 2005 shall be deemed to be a direction issued to it as an approved exchange under section 46(1) of the Act. |
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| 7. Any futures contract that has been approved for listing or trading on a futures exchange by the Authority before 1st July 2005 for the purpose of section 25 of the Act in force immediately before 1st July 2005 and continued to be so approved immediately before that date shall be deemed to have been approved by the Authority for the purposes of section 29 of the Act for listing or trading on that exchange where that exchange is deemed to be an approved exchange under regulation 2. |
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