Recognition conditions for TSE
In respect of investors in Singapore, TSE shall only allow professional
investors, accredited investors and expert investors to trade directly onits markets.
[TSE’s members operating in Singapore shall therefore only allow
professional investors, accredited investors and expert investors inSingapore to have trading access through them onto TSE’s markets. Suchmembers shall also take due care to have in place measures to ensurethat only professional investors, accredited investors and expert
investors in Singapore have trading access through them onto TSE’smarkets.]
A “professional investor” means –(a) a bank that is licensed under the Banking Act (Cap. 19);(b) a merchant bank that is approved as a financial institution
under section 28 of the Monetary Authority of Singapore
Act (Cap. 186);(c)a finance company that is licensed under the Finance
Companies Act (Cap. 108);(d) a company or society registered under the Insurance Act(Cap. 142) as an insurer;(e) the Singapore Government;(f)a statutory body established under any Act in Singapore;(g) the Government of Singapore Investment Corporation PteLtd;(h) a pension fund;(i)a collective investment scheme, as defined under section
2(1) of the Securities and Futures Act (Cap. 289) (“SFA”);(j)a holder of a capital markets services licence under the SFA;(k)a member of TSE, being a person who is exempted from therequirement to hold a capital markets services licence tocarry on business in dealing with securities under paragraph2(a) of the Second Schedule to the Securities and Futures

(l)

(m)
(n)(o)(Licensing and Conduct of Business) Regulations (Rg10)(“LCB Regulations”);a headquarters company or Finance and Treasury Centre
which carries on a class of business involving fundmanagement but only to the extent that the business infund management has been approved as a qualifying
service in relation to that headquarters company or Financeand Treasury Centre under section 43E(2)(a) or 43G(2)(a) of
the Income Tax Act (Cap. 134), as the case may be;
a company in the Global Trader Programme of International
Enterprise Singapore;a financial adviser licensed under the Financial Advisers Act(Cap. 110) who uses TSE’s services solely for the purposes oftrading for its own account; ora hedge fund that has assets under management of not lessthan S$15 million.

“Accredited investor” and “expert investor” shall have the meanings
prescribed to them under section 4A(1)(a) and 4A(1)(b) of the SFA
respectively.

Recognition conditions for OSE
In respect of investors in Singapore, OSE shall only allow professional
investors, accredited investors and expert investors to trade directly on
its markets.
[OSE’s members shall therefore only allow professional investors,
accredited investors and expert investors in Singapore to have trading
access through them onto OSE’s markets. Such members shall also takedue care to have in place measures to ensure that only professional
investors, accredited investors and expert investors in Singapore havetrading access through them onto OSE’s markets.]
A “professional investor” means –(a) a bank that is licensed under the Banking Act (Cap. 19);(b) a merchant bank that is approved as a financial institution
under section 28 of the Monetary Authority of Singapore
Act (Cap. 186);(c)a finance company that is licensed under the Finance
Companies Act (Cap. 108);(d) a company or society registered under the Insurance Act(Cap. 142) as an insurer;(e) the Singapore Government;(f)a statutory body established under any Act in Singapore;(g) the Government of Singapore Investment Corporation PteLtd;(h) a pension fund;(i)a collective investment scheme, as defined under section
2(1) of the Securities and Futures Act (Cap. 289) (“SFA”);(j)a holder of a capital markets services licence under the SFA;(k)a member of OSE, being a person who is exempted from therequirement to hold a capital markets services licence:(i) to carry on business in trading in futures contracts underparagraph 3(a) of the Second Schedule to the Securities

(ii)

(iii)
(iv)

(v)and Futures (Licensing and Conduct of Business)
Regulations (Rg 10)(“LCB Regulations”); or(ii) to carry on business in dealing with securities underparagraph 2(a) of the Second Schedule to the LCB
Regulations;a headquarters company or Finance and Treasury Centre
which carries on a class of business involving fundmanagement but only to the extent that the business infund management has been approved as a qualifying
service in relation to that headquarters company or Financeand Treasury Centre under section 43E(2)(a) or 43G(2)(a) of
the Income Tax Act (Cap. 134), as the case may be;
a company in the Global Trader Programme of International
Enterprise Singapore;a financial adviser licensed under the Financial Advisers Act(Cap. 110) who uses OSE’s services solely for the purposesof trading for its own account; ora hedge fund that has assets under management of not lessthan S$15 million.

“Accredited investor” and “expert investor” shall have the meanings
prescribed to them under section 4A(1)(a) and 4A(1)(b) of the SFA
respectively.