7A.1 General Provisions on Client’s Moneys and Assets received by a Member

7A.1.1 A Member shall, to the extent that it receives money or other assets from or on account of a client —

a. do so on the basis that the money or other assets shall be applied solely for such purpose as may be agreed to by the client, when or before it receives the money or other assets;

b. pending such application, pay or deposit the money or other assets in such manner as may be prescribed; and

c. record and maintain a separate book entry for each client in relation to that client’s money or other assets.

7A.1.2 All money or other assets received from or on account of clients or deposited in the manner required under Rule 7A.1.1 shall not be available for payment of the debts of the Member.

2017 © Cleartrade Exchange Pte Ltd. All rights reserved.