How do we use Artificial Intelligence?
OCBC Securities Private Limited (“OSPL”) is committed to harnessing advanced technology to deliver efficient and innovative services to our customers and to enhance our processes. As part of this commitment, OSPL uses Artificial Intelligence (“AI”) across our business.

AI represents a significant advancement in computer systems, enabling them to perform tasks that traditionally required human intelligence. By leveraging AI, we aim to enhance our customers’ experience and make work more meaningful for our employees.

Here are some key ways in which we use AI to serve you better:

1. Protecting our customers
   Our AI algorithms are constantly monitoring your account activities to detect any suspicious transactions or patterns that may indicate scams or fraudulent activity. By taking this proactive approach, we aim to ensure the safety of your financial well-being and protect your accounts from unauthorized access.
2. Protecting the organisation and society
   We apply AI algorithms to proactively monitor for financial crime, such as money laundering. By proactively identifying financial crime, we aim to protect OSPL and society, and the wellbeing of our financial system.
3. Personalisation & marketing
   Our AI algorithms analyse trading transactions, interactions, and customer profiles to provide you with tailored insights and recommendations. This empowers our customers to make better financial decisions and receive more relevant marketing communications from OSPL.
4. Improving quality of work for our employees
   We also use AI to improve our productivity. This streamlines our internal processes, allowing us to serve you efficiently.
5. Improving our employee engagement
   As our employees are a critical part of our organisation, we use AI to improve our employee engagement by providing our employees with recommendations for their careers, learning and development needs based on their skills. We also use AI to take proactive measures to retain talent. This helps our employees to realise their aspirations and provides us with a stable workforce to better serve our customers.

We understand that data privacy and security, and unintentional biases of AI-driven decisions are important concerns for you. Please be assured that we strictly adhere to data protection regulations and employ robust security measures to safeguard your personal data. Our Data Protection Policy sets out how we collect, use, and disclose your personal data.

We also regularly review and test the AI deployed by us for errors or unintentional biases. As technology continues to evolve, we remain committed to remaining at the forefront of innovation to serve you better. Our dedicated team of experts continuously explores new ways to leverage AI and other emerging technologies to meet your evolving trading needs. Please Contact Us if you have questions about our usage of AI.

At OCBC Securities Private Limited (“OSPL”), we are committed to protecting the security and confidentiality of your personal information so as to provide you with a safe and secure online environment. Our website uses commercially proven security hardware and software products. These security products include routers, firewalls, intrusion detection systems and secure operating system to safeguard your interest.

Industry standard Secure Socket Layer (SSL) communication protocol is the de facto cryptographic standard that we use for securing data communication between the browser and our website. Digital certificate technology is used to ensure transaction Privacy, message integrity and server-side authentication. This also serves as an assurance that the website runs legitimately under the care of OCBC Securities.

All connections must pass through at least one router and one firewall to gain access to the server. The firewall checks for the appropriate source address and restricts unauthorised access to the appropriate server.

Additional technical security features include Verisign digital certificates, 128-bit encryption, oneway hashing of all user passwords and automatic logoff after a certain period (currently 2 hours). OCBC Securities' Online Trading is regularly reviewed and audited by external and internal auditors to ensure that your interest is safeguarded.

Apart from the security measures put in place by OCBC Securities, you play an equally important role in ensuring your online security and account information is not compromised.

You should adopt the following recommended practices in protecting the security of your system:

• Do not share your user ID or password with anyone.
• Do not display your account information in a manner that is visible to others and your PC should never be left unattended. For your protection, OCBC Securities Trading will automatically terminate your session if there is no activity for a period of time.
• Always use the recommended browser. All browsers and application software should be upgraded to support SSL 128-bit encryption.
• Always check that our website address changes from http:// to https:// and a security icon, usually in the form of a lock or key, appears when authentication and encryption is expected.

At OCBC Securities, we have implemented measures to safeguard your account information. However, to ensure that your online security and account information are not compromised, we recommend that you adopt the following OCBC Securities Online Trading security guidelines:

1. Before entering your User ID and Password, you should always ensure that the website you are visiting belongs to OCBC Securities. This can be verified by the URL displayed in your browser as well as the OSPL’s name in its digital certificate. This precaution will ensure that you are not revealing your OCBC Securities Online Trading Account Number and Password to a website other than OCBC Securities.
2. To ensure that you enjoy the highest level of security possible, all browsers and application software should be upgraded to support SSL 128-bit encryption or a higher encryption standard with the most updated security features available.
3. It is important to protect yourself against any forms of online theft of your User ID and Password. Each valid User ID and Password identifies you uniquely as one of our valued customers. Only authorised users are allowed to log in to our secured Online Trading portal.

   Important tips on how you can safeguard and protect your account information.

   1. Password has to be at least 8 characters and has to be alphanumeric. For added security, your password cannot contain repeated characters.
   2. Password should not be based on guessable information such as user-id, personal telephone number, birthday or any other personal information.
   3. Password must be kept confidential and not be divulged to anyone.
   4. Password must be memorised and not be recorded anywhere.
   5. Password must be changed regularly, or when there is any suspicion that it has been compromised or impaired.
   6. The same Password should not be used for different websites, applications or services, particularly when they relate to different entities.
   7. Please do not select the browser option for storing or retaining user name and password.
   8. Please check the authenticity of OSPL's website by comparing the URL and observing the OSPL's name in its digital certificate or by observing the indicators provided by an extended validation certificate.
   9. Please check that the OSPL's website address changes from http:// to https:// and a security icon that looks like a lock or key appears when authentication and encryption is expected.
   10. Please do not allow anyone to keep, use or tamper with your One-time Password security token.
   11. Please do not reveal the OTP (One Time Password) generated by the security token to anyone.
   12. Please do not divulge the serial number of your security token to anyone.
   13. Please check your account and transactions frequently and report any discrepancy.
   14. Please inform OSPL immediately on the loss of your mobile phones or change in your mobile phone numbers.
4. Please install anti-virus, anti-spyware and firewall software in your mobile phones and personal computers, particularly when you are linked via broadband connections, digital subscriber lines or cable modems.
5. Please update the anti-virus and firewall products with security patches or newer versions on a regular basis.
6. Please remove file and printer sharing in your computers, especially when you have internet access via cable modems, broadband connections or similar set-ups.
7. Make regular backup of critical data.
8. Consider the use of encryption technology to protect highly sensitive or confidential information.
9. Log off the online session and turn off the computer when not in use.
10. Clear browser cache after the online session.
11. Do not install software or run programs of unknown origin.
12. Delete junk or chain emails.
13. Do not open email attachments from strangers.
14. Do not disclose personal, financial or credit card information to little known or suspect websites.
15. Do not use a computer or device which cannot be trusted.
16. Do not use public or internet cafe computers to access online trading platform or perform trades.
17. You are advised not to access OCBC Securities Online Trading using 'jailbroken' or 'rooted' mobile devices (ie the phone Operating System has been tampered with) , as it poses potential risk of malicious software infection.
18. You are advised to only download the Mobile Trading application from authorised sources such as Apple App Store and Google Play Store.
19. If you are using the mobile phone SMS token to generate the One-time password for your Online Trading access, you are advised to notify OSPL in the event of lost/theft of your mobile device and if you suspect there is unauthorized access to your account.
20. If you notice any unusual/unauthorised transactions, please change your Password and notify us immediately. It is important that you inform us immediately by calling our Customer Service Hotlines at 1-800-338-8688.
21. Your usage of OCBC Securities Online Trading is subject at all times to the Terms and Conditions found on our website (www.iOCBC.com). You should therefore read carefully and adhere to the recommended security practices. OCBC Securities is not responsible for any loss or damage in connection to the use of OCBC Securities Online Trading services unless such loss is attributable to our negligence or wilful default.
22. As a user OCBC Securities Online Trading, you have the right to (1) suspend your Online Trading access immediately should you suspect any unusual activity and/or unauthorised access, (2) terminate this service, (3) request for a new set of OCBC Online Password and (4) obtain information from the OCBC Securities regarding your online transactions.
23. OSPL does not make unsolicited requests for your personal information through e-mail or on phone unless you have initiated the contact. We will under no circumstances ask you to reveal your Password.
24. You are advised to always be on the alert for phony websites and suspicious emails purporting to be from OSPL. If you are aware of or have received such communication, please report immediately by contacting us.

What is Spyware?

Spyware is software that gathers user information while on the Internet and reports them to third parties. Adware is a form of Spyware used by marketers to track Internet user’s surfing habits and interests for the purpose of customising future advertising material. Adware can monitor information such as the type of sites visited, nature of articles read or the types of pop-ups and banners a user clicks on. This information collected is then used to customise future advertisements targeted to the user or can be sold to a third party for the same purpose.

Spyware and Adware not only slows down the system performance of a computer, it also uses memory and system resources and can cause system crashes and instability. Such programs may also have the ability to monitor keystrokes, scan files on your hard drive, change the default home page of your browser, and relay information about your web visits to unauthorised/disreputable third parties who can potentially manipulate the information.

Hence, Spyware and Adware programs are considered as potential forms of identity theft as they have the ability to invade your online privacy by gaining access to your passwords, PINs, credit card details and other personal transaction information.

Security Tips on Spyware and Adware

OCBC treats online security with utmost importance and issues this security alert on Spywares and Adwares so that you will be better informed on how to protect yourself when using the Internet.

Recent news on Spywares reported that some companies are promising faster internet access if the user channels his web communication through these companies' servers and/or installs special programs onto their computer. In doing so, these companies are provided with opportunities to monitor your web behaviour. Some of these companies are even able to decrypt, thus exposing your online communication including encrypted information containing confidential details such as usernames, passwords, account particulars - keyed in even at secured websites!

At OCBC Securities, we are committed to provide the highest level of security to our customers. Hence, we strongly advise that you do not access OCBC Securities Online Trading through such web services or have any such dubious computer software installed in your computer, which can be malicious.

How can you protect yourself?

There are products available that can help you detect, monitor and remove Spyware from your computer. Many complete computer security software suites now come with a standard feature for Spyware detection and removal.

With the proper precautions, you can help protect your OCBC Securities trading accounts and personal information from harmful programs:

1. Be wary of banners, ads and pop-ups while surfing the Internet. Refrain from clicking on them no matter how enticing they may appear.
2. Avoid downloading programs and email attachments from unknown sources. Downloads may contain hidden programs that can compromise your computer’s security. Also, never download or open email attachments from unknown senders.
3. Keep your computer operating system and Web browser current. If your computer is more than five years old, its operating system (e.g. Windows 98, OS 7 etc.) may not offer the same level of protection as newer systems. System manufacturers such as Microsoft and Apple provide frequent updates to help make your system more secure. You may check out their websites:
   http://www.microsoft.com/security or http://www.apple.com/support/security/.
4. Install and update your computer with the latest anti-virus software. Commercially available virus protection software helps reduce the risk of contracting computer viruses that can compromise your security. These programs offer the protection against the latest threats – provided you continuously keep the program updated.
5. Install up-to-date anti Spyware program to regularly scan your computer, locate, quarantine and delete any Spyware/ Adware in your computer Review terms and conditions when you install free programs or subscribe to services from the Internet.
6. Recommended Password Management

   OCBC Securities Online Trading Password must be kept confidential at all times and not be divulged to anyone

   1. Change your OCBC Securities Online Trading Password on a regular basis
   2. Password should not be based on username, personal telephone number, birthday or other personal information
   3. Password must be memorised and not be recorded anywhere

The same password should not be used for different websites, applications or services, particularly when they relate to different entities.

With email emerging as an increasingly important communication tool, it is critical to take precautionary measures against cyber frauds.

Be wary of:

1. any false email address, logo or graphic designed to mislead you into accepting the validity of any email or website;
2. any fake domain name which appears to be an OCBC Securities website or the website of any other financial institution;
3. any hyperlink to any fake website;
4. any embedded form in any email;
5. any other technique or method designed to mislead you or trick you into providing personal details, such as your OCBC Securities Online Trading User ID or password, or any other sensitive information or downloading a virus.

Never access OCBC Securities Online Trading from a link in an email.

You should personally enter the domain name of OCBC Securities (currently only www.iocbc.com) into your browser when logging onto OCBC Securities Online Trading. You should not accept links or redirections from websites (other than the websites of the OCBC Bank Group) or media for the purpose of logging onto OCBC Securities Online Trading website.

Never reveal your password to anyone. OCBC Securities will never request for your password for any reasons.

Be aware of Phishing. Phishing is the term coined by hackers who imitate legitimate companies in emails to entice people to share passwords or credit card numbers. Before entering your usernames or passwords, you should always ensure that the website you are visiting belongs to OCBC Securities. This can be verified by the URL displayed in your browser as well as the name of OCBC Securities in its digital certificate. This precaution will ensure that you are not revealing your OCBC Securities Online Trading User ID or passwords to a website other than OCBC Securities.

Always check that our website address changes from http:// to https:// and a security icon, usually in the form of a lock or key, appears when authentication and encryption is expected. Double click on the "Padlock" or "Key" and a new window will pop-up. This Certificate will ensure the authenticity of the website.

Ensure the following on the Certificate:

1. The Certificate is issued to www.iocbc.com
2. The Certificate is issued by Verisign
3. The Certificate has a valid date
4. You are encouraged to delete junk mail, chain mail or any other unsolicited email. Do not open email attachments from strangers.

If you discover or believe that there are fraudulent e-mails, fake websites or other scams directed at you or any other customers of OCBC Securities, please notify OCBC Securities immediately at 1800 338 8688.

We wish to inform you that the OCBC Securities Standard Trading Terms and Conditions (the “T&Cs”) which govern your account(s) with us have been revised.

You may access a copy of the revised T&Cs here. If you wish to have a hard copy of the revised T&Cs for your record, you may obtain it from your Trading Representative or call our Customer Service hotline at 1800 338 8688 (if you are calling from within Singapore) or +65 6338 8688 (if you are calling from overseas).

The revised T&Cs will take effect from 05 December 2025 (the “Effective Date”). Should you transact or continue to transact any securities transactions with us or use or continue to use any of our services on or after the Effective Date, you shall be deemed to have read, understood and agreed to the revised T&Cs.

The OCBC Securities Online Equities Account Terms and Conditions will be revised, changes as per below:

• Addition of new Clause 1(c)
• Addition of new Clause 3(e)
• Addition of new Clause 7(c)
• Deletion of original Clause 1(c) and Addition of new Clause 10

Changes will be effective on 28 April 2025.

For further questions, please contact your Trading Representative or our Customer Service Officer at above hotline number.

Your obligations and responsibilities

Your use of OCBC Securities Online Trading is governed by the OCBC Securities Standard Trading Terms and Conditions. It is important that you clearly understand your obligations and responsibilities before using OCBC Securities' website at www.iocbc.com.

As a user of OCBC Securities Online Trading service, you are to:

1. comply with the standards and procedures established by OCBC Securities from time to time;
2. take all reasonable precautions; and
3. observe with extreme care all security measures when accessing your online accounts or carrying out online transactions.

You will note that that under the said terms and conditions, you will remain liable for all instructions made through the use of your User ID and Password, whether or not authorised by you. OCBC Securities will not be liable for acting upon such instructions in good faith nor shall OCBC Securities be obliged to investigate the authenticity of such instructions.

You will also note that OCBC Securities shall not be liable to you in the following circumstances:

1. Failure on the part of the customer to adhere to the said terms and conditions
2. Failure to follow recommended security measures prescribed in 'Safeguarding your Internet Trading Access', found in previous tab above.
3. Failure on the part of OCBC Securities to act on instructions of the Customer as a result of anything beyond OCBC Securities' control. This includes, amongst other things, any machine, equipment, system or software failing to work, failure to act by any third party and any act, omission or delay of any agent or third party. If any loss or damage results directly from OCBC Securities' security breach, gross negligence, wilful default or fraud then, OCBC Securities will be liable to the Customer, and not to any third party, for the amount of any such loss or damage. However, OCBC Securities will not be liable to the Customer for any loss of business, loss of reputation, loss of opportunity, loss of profits any type of special, consequential.

For your convenience, this website may provide hyperlinks to other websites on the Internet. These third party websites are not affiliated with or in any way related to OCBC Securities Private Limited. We wish to acknowledge that we are providing such hyperlinks for your information purposes only.

The provision of hyperlinks to external or third party websites does not and in no way represent any forms of recommendation, endorsement, approval, guarantee or introduction of any third parties or the products and services that they provide, or any form of co-operation between OCBC Securities Private Limited and such third parties unless otherwise stated by OCBC Securities Private Limited Additionally, OCBC Securities Private Limited is not a party to any contractual arrangements that you and the provider of the third party website or any third party may enter into, unless otherwise specifically agreed to by OCBC Securities Private Limited.

You are strongly advised that you use the hyperlinks at your own risk. OCBC Securities Private Limited is not responsible for any loss, damage, or consequence that may, directly or indirectly, arise from your usage of the hyperlinks. Nor shall we be held liable for the accuracy, truthfulness, or whatever of the contents of such third party websites.

The hyperlinks to third party websites may contain downloadable software that are for your own convenience only. Once again, we shall not be held responsible for any problems or difficulties that you may encounter in downloading or installing such software. Please bear in mind that the use of any software downloaded from the Internet may be governed by a licence agreement. We are not in any way responsible for any infringement by you of any intellectual property rights of the relevant software provider by your failing to adhere to the terms of such license agreement. When you use this hyperlink service, you must observe the terms of use and the relevant rules and conditions stipulated by OCBC Securities Private Limited as well as those set down by other third party websites.

At OCBC Securities, we understand that our continued success as a financial services group is dependent on our ability to build enduring relationships with our customers. This involves treating our customers with respect and integrity, and consistently dealing with them in a fair and professional manner. That is why the element of Fair Dealing features prominently in our core values. Specifically, our value of ‘Integrity’ underscores Fair Dealing as the basis of our business.

We seek to deal fairly with our customers by:

• providing them with clear, relevant and timely information to help them make informed decisions
• recommending only products, where applicable, that are aligned with their financial objectives and risk profiles
• training and certifying our sales employees so that they are equipped to give appropriate advice and recommendations, where applicable
• treating their feedback and complaints seriously, and ensuring that issues are addressed in an effective and prompt manner

Our employees are constantly reminded on the importance of Fair Dealing, which is further reinforced through their performance and compensation review framework. In addition, the other Fair Dealing-related processes, systems and policies across the organisation are periodically reviewed and enhanced to ensure their continued effectiveness in helping us deliver the desired customer outcomes.

OCBC Whistleblowing Programme

At OCBC Securities, we are committed to the highest level of integrity and value high ethical standards. The Group's Whistleblowing Programme (www.ocbc.com/group/who-we-are/purpose-values/whistleblowing-programme.html) helps to promote a culture that encourages individuals to escalate any concerns or observation of fraud or misconduct. When sufficient information is provided, a thorough and unbiased investigation or assessment will be carried out by an independent party, Internal Audit. All parties will be treated fairly during the investigation and the Group will take appropriate actions based on the findings.

1.    Purpose

This disclosure document sets out key information on the best execution policy of OCBC Securities Private Limited (“OSPL”) (referenced as “Best Execution Policy” in this document), in accordance with the following:

1. MAS Notice SFA 04-N16 (Notice on Execution of Customers’ Orders); and
2. MAS’ Guidelines to MAS Notice SFA 04-N16 on Execution of Customers’ Orders.

2.    Definition and Scope

2.1  OSPL’s Best Execution Policy applies to all orders for the purchase or sale of any capital markets products, which OSPL will

1. either directly or through its agents, place or execute, or both, on behalf of its customers; or
2. execute with its customers,

hereinafter referred to as “Customer’s Orders”.

2.2  For the avoidance of doubt, our Best Execution Policy covers all capacities in which OSPL is acting (i.e. whether as agent or principal) in relation to such Customers’ Orders.

2.3  “Best Execution” means:

1. to place or execute Customers’ Orders on the best available terms; and
2. to place or execute Customers’ Orders in accordance with the time of receipt of such orders, unless it is not practicable to do so.

3.    Policy Requirements and Execution Factors

3.1  In placing or executing a Customer’s Order, OSPL shall take all reasonable steps to obtain the best possible result for its customers, taking into account a range of factors, which may include the nature of orders, customer’s specific order instructions, order size, available prices, costs, execution speed, likelihood of execution and settlement, liquidity constraints (which may make it difficult to execute an order), possible market impact, and/or other relevant order execution considerations, whether we are executing orders directly on an execution venue or indirectly by passing orders to other intermediary brokers for execution.

3.2  OSPL will generally give price a higher relative importance when obtaining the best possible result for orders executed on a customer’s behalf. However, the relative importance of the various factors may change depending on the circumstances.

3.3  In determining the relative importance and/or the applicability of the factors, OSPL will take into account the following considerations, where relevant:

1. the characteristics of the instruments or products that are the subject of the relevant order;
2. the characteristics of the execution venues or brokers to which the order can be directed; and
3. the characteristics of the Customer’s Order (e.g. size of order, liquidity profile, prevailing market conditions, any customer’s specific instructions)

3.4  Where customers are connected electronically to OSPL, we will ensure connection stability and uninterrupted market access during trading hours to the best of our ability so that our customers can be assured of accurate and timely execution; whether we are executing directly on an execution venue on our own, or transmitting Customers’ Orders to intermediary brokers for execution.

3.4  When executing orders as a principal, OSPL will check the fairness of the price proposed to the customer, for example, by gathering market data used in the estimation of the price of such product and, where possible, by comparing with similar or comparable products.

4.    Execution Venues

4.1  OSPL’s Best Execution obligation is to achieve the best possible outcome on a consistent basis, regardless of the execution venues and whether Customer’s Orders are executed on-exchange or off-exchange (such as OTC execution for structured products or bonds, and for cross trades). The possible execution venues include, as appropriate for each capital markets product, approved exchanges, recognised market operators in Singapore or trading through another intermediary/counterparty in relation to dealing in capital markets products in a foreign jurisdiction, market makers and liquidity providers.

4.2  OSPL may also transmit Customers’ Orders to another broker for execution, in which case we will either determine the ultimate execution venue ourselves and instruct the other broker accordingly, or we will satisfy ourselves that the other broker has arrangements in place to enable us to comply with our Best Execution obligations to our customers.

4.3  OSPL will also take steps not to structure or charge commissions in such a way as to discriminate unfairly between multiple execution venues.

4.4  Where there is more than one execution venue or broker available to place or execute the Customer’s Order for a particular capital markets product, OSPL shall consider the respective merits (which include post trade services, system performance and dealing services) of each venue or broker for selecting the venue(s) or broker(s).

4.5  For single execution venue transactions, this would preclude the use of comparable prices and the key consideration will be timely execution, in addition to the range of factors as may be relevant to achieve the best possible execution outcome of the customers.

5.    Specific Instructions

5.1  OSPL will place and/or execute a Customer’s Order following the specific instruction, if any, from the customer. When we place and/or execute an order following the specific instruction from the customer, we would be regarded as having satisfied our Best Execution obligations only in respect of the part or aspect of the order to which the customer’s instruction relates.

5.2  In the absence of express instructions from our customers, we will exercise our own discretion, subject to the circumstances thereon, and having regard for the terms of our Customer’s Order in determining the factors that we need to take into account for the purpose of providing our customer with Best Execution.

5.3  Where customers choose to execute an order via our online platform, the customer will select parameters of the trade (such as the price, the timing, the size and nature of interaction with the selected execution venue). In such a case, OSPL, while acting on its customer’s behalf in providing the online service, is considered to have fulfilled its obligation in that aspect of the order to provide Best Execution, and the customer will be treated as having given specific instructions for the entirety of their order by means of the online platform.

6.    Payment for order flow

Payment for order flow (“PFOF”) refers to commission or other form of payment which OSPL receives from another broker or counterparty in return for routing Customers’ Orders to that broker or counterparty.

OSPL does not receive PFOF in placing and/or executing Customers’ Orders.

7.    Review and Updates

OSPL will review our Best Execution Policy from time to time, and reserves the right to amend/update as appropriate without providing prior notice. Customer may refer to the latest version of this document made available on our website.

How will my feedback be handled?

We will be in touch within 2 working days of receiving your feedback. After that, if any mis-selling or misrepresentation of an investment product is involved, an independent unit that is not directly involved in providing any financial advisory services will be in touch. Within 20 working days, after investigation and review, we will provide a written reply. If we require more time for the investigation, we will let you know.

Will my feedback be handled in an independent manner?

Yes, an independent unit that is not directly involved in providing any financial advisory services will investigate and review your feedback fairly and promptly.

How can I submit my feedback or complaint?

1. Please email us at askocbcsec@ocbc.com so we may assist you.
2. Alternatively, write to us at:
   18 Church Street
   #01-00 OCBC Centre South
   Singapore 049479
3. For immediate assistance, call us at 1800 338 8688 or +65 6338 8688 (if overseas) between 8.30am and 5.30pm SG Time (Monday to Friday, excluding Singapore public holidays).

We strive to address all feedback satisfactorily. If the outcome of our review does not meet your expectations, you may refer the matter to Financial Industry Disputes Resolution Centre Ltd (FIDReC). FIDReC is an independent institution set up to assist in the resolution of disputes between consumers and financial institutions. For more information, please go to https://www.fidrec.com.sg/

1.    Definitions and Interpretation

In this FATCA Policy, the following capitalised terms have the following meaning:

"Account Information" means any information relating to any account of a Customer with OCBC Securities including without limitation the account number and transaction details.

"Applicable Laws and Regulations" means obligations of OCBC Securities to comply with: (i) applicable local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules, codes of practice, whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Securities and any government or taxation authority in any jurisdiction; and including but not limited to FATCA.

”Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.

"Consenting Person" means any Person or entity whose information (including Tax Information) is received by OCBC Securities in connection with the provision of Services. For the avoidance of doubt, "Consenting Person" may include Customers, substantial owners and controlling persons of Customers, any Person who is beneficially interested or financially interested in the payments made or to be made by OCBC Securities.

"Controlling Person" means any individual who exercises ultimate effective control over an entity or trust.

"Customer" means the Person who has a relationship with OCBC Securities in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.

"FATCA" means Section 1471 to 1474 of the United States Internal Revenue Code of 1986, as amended and any associated similar or analogous legislation, treaty, intergovernmental agreement, foreign financial institution agreement, regulation, instruction, or other official guidance of any Authority in any jurisdiction whether within or outside of Singapore.

"OCBC Securities" means OCBC Securities Private Limited and shall include its successors and assigns.

"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.

"Personal Information" in respect of a Customer and any Consenting Person, means: (i) where the Customer and any Consenting Person is an individual, his/her full name, date and place of birth, residential address, mailing address, contact information (including telephone number), and any taxpayer identification number, social security number, citizenship(s), residency(ies) and tax residency(ies) or (if applicable) such information as OCBC Securities may reasonably require regarding Customer and any Consenting Person; (ii) where the Customer and any Consenting Person is a corporate/entity, its date and place of incorporation or formation, registered address, address of place of business, tax identification number, tax status, tax residency, registered address, address of place of business or (if applicable) such information as OCBC Securities may reasonably require regarding each of its substantial shareholders and controlling persons.

"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of security trading accounts; ; (ii) relationship maintenance between OCBC Securities and the Customer (including without limitation marketing and promoting services or products); (iii) any other products tools and/or services, from time to time offered by OCBC Securities, including electronic trading services; and (iv) any other acts or materials of OCBC Securities ancillary to, in furtherance of or in connection with any of the (i) to (iii) above.

"Substantial owner" includes (1) with respect to a corporate or entity, certain persons that directly or indirectly own more than 25% of the corporation's stock (by vote or value), (2) with respect to a partnership, certain persons that directly or indirectly own more than 25% of the profits or capital interests in the partnership, and (3) with respect to a trust, certain persons treated as the owner of the trust or treated as holding directly or indirectly more than 25% of the beneficial interests of the trust.

"Tax Information" in respect of a Customer and any Consenting Person, means: (i) any documentation or information (and accompanying statements, waivers and consents as OCBC Securities may from time to time require or as the Customer and any Consenting Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Consenting Person; (ii) Personal Information of the Customer and any Consenting Person; and (iii) Account Information.

2.    Tax Withholding and Compliance Provisions

2.1  Provision of Information

1. The Customer must provide OCBC Securities with the Customer's Personal Information, and where reasonably required by OCBC Securities, the Personal Information of any Consenting Person, in such form and within such time, as OCBC Securities may from time to time require.
2. When there is a change or addition to the Personal Information of the Customer and (where applicable) any Consenting Person, the Customer must update OCBC Securities promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition.
3. The Customer must, and, where applicable, procure such other Consenting Person to, complete and sign such documents and do such things as OCBC Securities may reasonably require from time to time for purposes of OCBC Securities' compliance with Applicable Laws and Regulations.
4. The Customer agrees that OCBC Securities may directly require any Consenting Person to provide or confirm accuracy of their Personal Information without involving Customer if OCBC Securities reasonably considers it appropriate.

2.2  Disclosure of Information

1. The Customer agrees that OCBC Securities may disclose the Customer's Tax Information and the Tax Information of any other Consenting Person to any Authority in any jurisdiction for ensuring OCBC Securities' compliance with Applicable Laws and Regulations.
2. The Customer waives, and, where reasonably required by OCBC Securities, agrees to procure any other Consenting Person to waive, any applicable restrictions that would otherwise hinder OCBC Securities' ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
3. The Customer agrees that OCBC Securities may directly require any other Consenting Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Securities reasonably considers it appropriate.

2.3  Failure to Provide Information

The Customer agrees that:

1. where the Customer fails to comply with its obligations under 2.1 above; or
2. where any of the other Consenting Persons fails to comply with OCBC Securities' requirements in 2.1 or 2.2; or
3. where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
4. for whatever reason OCBC Securities is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,

OCBC Securities may take one or more of the following actions at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations:

1. deduct from or withhold part of any amounts payable by OCBC Securities to the Customer and/or any other Consenting Person;
2. refuse to provide new Services to the Customer;
3. terminate the Customer's account(s) with OCBC Securities;
4. discontinue entirely or in part OCBC Securities' relationship with Customer;
5. provide (whether before or after taking actions as described in items 3 and 4 of this section) the Tax Information relating to Customer and/or any of the Consenting Persons to such Authority in any jurisdiction.

The Customer agrees that:

1. where the Customer fails to comply with its obligations under 2.1 above; or
2. where any of the other Consenting Persons fails to comply with OCBC Securities' requirements in 2.1 or 2.2; or
3. where the Personal Information (regardless of whether such Personal Information is in relation to Customer or any other Consenting Person) is inaccurate, incomplete, or not promptly updated; or
4. for whatever reason OCBC Securities is prevented (under Singapore law or otherwise) from making disclosure of the Tax Information of Customer and/or any other Consenting Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,

3.    Customer Confirmations

By using or accepting the Services, the Customer confirms and agrees that:

1. without prejudice to the Terms and Conditions, the Customer confirms that the Customer has read this FATCA policy, has received adequate explanation, and understands the implications of this FATCA policy by which Customer irrevocably agrees to be bound;
2. any agreement, waiver, confirmations given in, or to be given pursuant to, this FATCA policy is irrevocable;
3. OCBC Securities is not liable for any costs or loss that the Customer (or any other Consenting Persons) may incur because of OCBC Securities taking any actions permitted by or exercising any powers under this FATCA Policy;
4. any withdrawal or payment amount made by OCBC Securities pursuant to any Services shall be subject to this FATCA Policy;
5. the Customer must obtain or, as the case may be, have obtained the requisite consent from each Consenting Person for the provision of his/her/its Tax Information to OCBC Securities and the disclosure of any of such Tax Information by OCBC Securities under this FATCA Policy. The Customer must inform each Consenting Person of OCBC Securities' powers under this FATCA Policy;
6. this FATCA Policy is without prejudice, and in addition, to OCBC Securities' rights or powers under the terms and conditions governing the relationship between Customer and OCBC Securities.

4.    General

1. In the event of any conflict or inconsistency between any of the contents of this FATCA Policy and other terms and conditions that govern the Customer’s relationship with OCBC Securities, this FATCA Policy shall prevail.
2. Notwithstanding any other terms and conditions that govern the Customer’s relationship with OCBC Securities (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Securities may amend, update, and revise this FATCA Policy unilaterally at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations.
3. If all or any part of this FATCA Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this FATCA Policy in that jurisdiction.
4. It is the Customer's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this FATCA Policy. OCBC Securities do not provide tax or legal advice and are unable to advise Customers regarding the US federal income tax or other tax consequences to them under the Customer's particular circumstances.

1.    Definitions and Interpretation

In this CRS Policy, the following capitalised terms have the following meaning:

"Account Information" means any information relating to any account of a Customer with OCBC Securities including without limitation the account number and transaction details.

"Applicable Laws and Regulations" mean any of the following that currently or in the future apply to OCBC Securities: (i) local or foreign laws, ordinances, regulations, demands, guidance, orders, guidelines, rules and codes of practice, including whether or not relating to an intergovernmental agreement between the governments or regulatory authorities of two or more jurisdictions; and (ii) any agreement between OCBC Securities and any government or taxation authority in any jurisdiction; and including, but not limited to, the CRS.

”Authority" means any national, state, or local government, any political subdivision thereof, any agency, authority, instrumentality, whether judicial or administrative, regulatory or self-regulatory organisation, law enforcement body, court, central bank or tax or revenue authority in any jurisdiction whether within or outside of Singapore.

"Controlling Person" means any natural person who exercises control over a legal person or a legal arrangement, such as a corporation, partnership, trust or foundation. In the case of a trust, such term means the settlor, the trustees, the protector (if any), the beneficiaries or class of beneficiaries, and any other natural person exercising ultimate effective control over the trust, and in the case of a legal arrangement other than a trust, such term means persons in equivalent or similar positions. The term "Controlling Person" must be interpreted in a manner consistent with the Financial Action Task Force Recommendations. Where no natural person or persons is or are identified as exercising control of the entity through ownership interests, the controlling person of the entity is deemed to be the natural person who holds the position of senior managing official.

"CRS" means the Standard for Automatic Exchange of Financial Account Information in Tax Matters, developed by the Organisation for Economic Co-operation and Development and any associated similar or analogous legislation, treaty, regulation, instruction or other official guidance of any Authority in any jurisdiction.

"Customer" means the Person who has a relationship with OCBC Securities in connection with the Services, whether alone or jointly with any other Person and, in the case of a corporation, shall include its successors and in the case of a partnership or other unincorporated entity consisting of two or more Persons, its successors, executors and personal representatives.

"OCBC Securities" means OCBC Securities Private Limited and shall include its successors and assigns.

"Person" means an individual, corporation, company, partnership, joint venture, trust, estate, limited liability company, unincorporated organisation or other entity.

"Personal Information" in respect of a Customer and any Controlling Person, means: (i) where the Customer and any Controlling Person is an individual, his/her full name, date and place of birth, residential address, mailing address, hold mail instruction or in-care-of address, contact information (including telephone number), and any taxpayer identification number  (or functional equivalent), (if applicable) social security number, citizenship(s), standing instructions to transfer funds to an account, power of attorney or signatory authority granted to any person, residency(ies) and tax residency(ies) or (if applicable) such other information as OCBC Securities may reasonably require regarding such Customer and any Controlling Person; (ii) where the Customer and any Controlling Person is a corporate/entity, its full name, date and place of incorporation or formation, address, registered address, address of place of business, tax identification number (or functional equivalent), tax status, tax residency, financial statements, certification of its CRS status/classification, whether it is a passive NFE (as that term is defined by Applicable Laws and Regulations) with one or more Controlling Persons, or (if applicable) such other information as OCBC Securities may reasonably require regarding each of its substantial shareholders and controlling persons.

"Services", in relation to a Customer, means, without limitation, (i) the opening, maintaining and closing of security trading accounts; (ii) relationship maintenance between OCBC Securities and the Customer (including without limitation marketing and promoting services or products); (iii) any other products tools and/or services, from time to time offered by OCBC Securities, including electronic trading services; and (iv) any other acts or materials of OCBC Securities ancillary to, in furtherance of or in connection with any of the (i) to (iii) above.

"Tax Information" in respect of a Customer and any Controlling Person, means: (i) any documentation or information (and accompanying statements, forms, representations, waivers and consents as OCBC Securities may from time to time require or as the Customer and any Controlling Person from time to time give) relating, directly or indirectly, to the tax status of the Customer and any Controlling Person; (ii) Personal Information of the Customer and any Controlling Person; (iii) Account Information; and (iv) any other information received by OCBC Securities in relation to the Customer, including (but not limited to) information collected and maintained pursuant to AML/KYC procedures.

2.    Tax Compliance Provisions

2.1  Provision of Information

1. The Customer must provide OCBC Securities with the Customer's Personal Information, and where reasonably required by OCBC Securities, the Personal Information of any Controlling Person, in such form and within such time, as OCBC Securities may from time to time require.
2. When there is a change or addition to the Personal Information of the Customer and (where applicable) any Controlling Person, the Customer must update OCBC Securities promptly (and in any event no later than 30 days from the date of the change or addition) of the change or addition if the Customer has not done so already.
3. The Customer must, and, where applicable, procure such Controlling Person to, complete and sign such documents and do such things as OCBC Securities may reasonably require from time to time for purposes of OCBC Securities’ compliance with Applicable Laws and Regulations.
4. The Customer agrees that OCBC Securities may directly require any Controlling Person to provide or confirm the accuracy of their Personal Information without involving the Customer if OCBC Securities reasonably considers it appropriate.

2.2  Disclosure of Information

1. The Customer agrees that OCBC Securities may disclose the Customer's Tax Information and the Tax Information of any Controlling Person to any Authority in any jurisdiction for the purpose of ensuring OCBC Securities’ compliance with Applicable Laws and Regulations.
2. The Customer waives, and, where reasonably required by OCBC Securities, agrees to procure any Controlling Person to waive, any applicable restrictions that would otherwise hinder OCBC Securities’ ability to disclose Tax Information to comply with Applicable Laws and Regulations, and in particular, to disclose Tax Information in the manner described in 2.2a.
3. The Customer agrees that OCBC Securities may directly require any Controlling Person to agree to the disclosure described in 2.2a and/or waive any otherwise applicable restrictions on such disclosure, if OCBC Securities reasonably considers it appropriate.

2.3  Failure to Provide Information

The Customer agrees that:

1. where the Customer fails to comply with its obligations under 2.1 or 2.2 above; or
2. where any Controlling Person fails to comply with OCBC Securities’ requirements set out in 2.1 or 2.2 above; or
3. where the Personal Information (regardless of whether such Personal Information is in relation to the Customer or any Controlling Person) is inaccurate, incomplete, misleading or is not promptly updated; or
4. for whatever reason OCBC Securities is prevented (under Singapore law or otherwise) from disclosing the Tax Information of the Customer and/or any Controlling Person(s) to the relevant Authority as may be required by Applicable Laws and Regulations,

OCBC Securities may take one or more of the following actions at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations:

1. refuse to provide new Services to the Customer;
2. terminate the Customer's account(s) with OCBC Securities;
3. discontinue entirely or in part OCBC Securities’ relationship with the Customer;
4. provide (whether before or after taking actions as described in items 2 and 3 of this section) the Tax Information relating to the Customer and/or any Controlling Person to an Authority in any jurisdiction.

3.    Customer Confirmations

By using or accepting the Services, the Customer confirms and agrees that:

1. without prejudice to the applicable terms and conditions governing the relationship between OCBC Securities and the Customer, the Customer confirms that the Customer has read this CRS Policy, has received adequate explanation, and understands the implications of this CRS Policy by which the Customer irrevocably agrees to be bound;
2. any agreement, waiver, representation and/or confirmation given in, or to be given pursuant to, this CRS Policy is irrevocable;
3. OCBC Securities is not liable for any costs or loss that the Customer (or any Controlling Person) may incur because of OCBC Securities taking any actions permitted by or exercising any powers under this CRS Policy;
4. any withdrawal or payment amount made by OCBC Securities pursuant to any Services shall be subject to this CRS Policy;
5. the Customer must obtain or, as the case may be, have obtained the requisite consent from each Controlling Person for the provision of his or her Tax Information to OCBC Securities and the disclosure of any of such Tax Information by OCBC Securities under this CRS Policy. The Customer must inform each Controlling Person of OCBC Securities’ powers under this CRS Policy; and
6. this CRS Policy is without prejudice, and in addition, to OCBC Securities’ rights or powers under the terms and conditions governing the relationship between the Customer and OCBC Securities.

4.    General

1. In the event of any conflict or inconsistency between any of the contents of this CRS Policy and other terms and conditions that govern the Customer’s relationship with OCBC Securities, this CRS Policy shall prevail.
2. Notwithstanding any other terms and conditions that govern the Customer's relationship with OCBC Securities (including but not limited to amendments or modification provisions of such terms and conditions), OCBC Securities may amend, update, and revise this CRS Policy unilaterally at any time as may be required by OCBC Securities to ensure its compliance with Applicable Laws and Regulations.
3. If all or any part of this CRS Policy is illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect or impair the legality, validity or enforceability of such provision in any other jurisdictions or the remainder of this CRS Policy in that jurisdiction.
4. It is the Customer's and each Controlling Person's responsibility to obtain independent professional advice from adequately qualified legal or tax advisors on its obligations under and the consequences of this CRS Policy. OCBC Securities do not provide tax or legal advice and are unable to advise Customers and/or Controlling Persons regarding the US federal income tax or other tax consequences that may be applicable to them in the Customer's (or the relevant Controlling Person's) particular circumstances.

As a global financial hub, Singapore is exposed to money laundering, terrorist financing and proliferation financing (collectively, Financial Crime) risks. The potential social and economic damage brought by these illicit activities to Singapore and the international financial markets is immense and severe. This is because such activities may involve drug dealings, illegal arms dealings, extortion, kidnapping, corruption, tax evasion, unlicensed money lending, terrorism activities and other serious crimes. These will not only lead to an increase in crime, but also bring harm to legitimate businesses.

OCBC Group – i.e. OCBC Bank and its subsidiaries, branches in and outside Singapore – are committed to complying with the sanctions laws and regulations issued by the Singapore Government including the Monetary Authority of Singapore, the United Nations Security Council, the European Union and the United States Treasury Department’s Office of Foreign Assets Control and the United Kingdom’s Office of Financial Sanctions Implementation of HM Treasury, as well as the applicable laws and regulations of the jurisdictions in which we operate. OCBC Group does not establish business relationships or transact with sanctioned individuals, entities, sanctioned countries or territories (such as North Korea, Iran, Syria, Cuba, Crimea, Donetsk, Luhansk, Kherson and Zaporizhzhia) [1], where such relationships or transactions are non-compliant with the above sanctions laws and regulations, or are against the OCBC Group’s internal AML/CFT and sanctions risk policies.

This means that we will proactively take measures to combat financial crime in order to safeguard the Group as well as our customers’ business reputation, assets and interests. Such measures may include:

• Monitoring and analysing your account activities;
• Contacting you for additional information as and when necessary, where such information is not available from our monitoring and analysis, to ensure compliance with applicable laws, regulations and policies;
• Rejecting or blocking transactions that are not permitted by the applicable laws, regulations, and policies; and
• Suspending or imposing any conditions on the access to or operations of your account or services provided to you, or restricting the channels available to access or operate your accounts.

We seek your cooperation and support should you receive such enquires from us.

[1]  This includes the use of OSPL’s electronic and mobile services from the sanctioned countries or territories.

Electronic trading systems are one of the trading avenues we offer to our valued clients. While we strive to make your trading as rewarding as possible, we would also like to take this opportunity to provide you with some information and guidance that are associated with E-trading.

1.    Trading practices that would be deemed as offences

One important aspect to be aware of is certain trading practices that would possibly be deemed as offences under the Securities and Futures Act (“SFA”) and the Exchange trading rules in “Prohibited Trading Practices”.

Risks of internet trading

Electronic trading relies heavily on hardware and connectivity. Having a good understanding of the characteristics, limitations and risks associated with such mode of trading will enable you to better manage certain situations that may arise.

Potential Limitations and Risks of Online Trading, which includes but not limited to the following:

1. possibility of delays in order transmission and confirmation of order execution, and what to do in case of such delays;
2. not being able to withdraw erroneous orders in time due to the speed of electronic trading; and
3. danger of unauthorised access to a customer’s on-line account and non-compliance of recommended preventive security measures in relation to matters such as the protection of passwords and leaving an on-line screen unattended.
4. exposed to risks associated with systems including the failure of hardware and software, resulting in orders either not executed according to instructions or not executed at all.

You may refer to Appendix 2 or the section on electronic trading in our agreement for more details.

2.    Order management procedures and functionalities of the trading system

You will appreciate that to make the best use of the trading system, it is necessary to have a good understanding of the various features and functionalities available.

An example of trading control functionality:

Trade Matching Control

The Matching Control is a mechanism which will prevent a customer from matching his own buy or sell orders. Therefore, if an order is working on the market, any opposite order tentatively sent by the user for the same account, same counter, and same or better price will get rejected.

For example, if a customer using account no. 0123456 keys in an order to buy 1,000 shares in counter A at S$1.00 and uses the same account to key in an order to sell 1,000 shares in counter A at S$1.00 or lower, the sell order will be rejected.

Why couldn’t you match your own trades?

Section 197(1) of the Securities and Futures Act prohibits any person from creating or doing anything that is intended or likely to create a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities.

Wash sale could have the effect of creating such false or misleading appearances. Under Section 197(3) read with section 197(4) of the SFA, A person engaging in wash sales in securities is deemed to have created a false or misleading appearance of active trading in securities on a securities market unless the person establishes that the purpose for which he conducted the wash sale was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.

What would the rejection message be?

The rejection message is “You are not allowed to match your own order (GL029). Please check your order and submit again”.

How does it affect you?

Your orders could be rejected if your Buy price is same as/higher than the current best Ask (selling) price or your Sell price is same as/lower than the current best Bid (buying).

Why are my orders rejected?

Your orders could be rejected for the following reasons:

1. You have submitted an order with price that is more than +/- 30 bids away from the last done price;
2. You have submitted an overnight order with price that is more than +/- 30 bids of the previous day’s closing price during the Pre-Opening routine at 8:30am (Singapore time);
3. Your Buy price is higher than the current best Ask (selling) price or your Sell price is lower than the current best Bid (buying);
4. You have exceeded your Trading limit. You can contact your broker for clarifications on reviewing your trading limit.

For more information on the system functionalities and order management procedures, please refer to user guide in iOCBC platform or the copy that we have sent you.

Please contact us or your Trading Representative if you required further assistance.

3.    Market convention of different exchange

You may also wish to visit the respective exchanges’ website to familiarize yourself with the contracts specifications which offer crucial information pertaining to a contract, such as contract size, tick value and last trading day.

At OCBC Securities, we always have your interest at heart. We would like to highlight certain trading practices that are prohibited by law under the Securities and Futures Act (“SFA”).

These practices could possibly be deemed as offences under Section 197 of the SFA on false trading and market rigging transaction.

Section 197 of the SFA prohibits any person from creating or doing anything that is intended or likely to create a false or misleading appearance of active trading in any securities on a securities market, or with respect to the market for, or the price of, such securities. Wash sale could have the effect of creating such false or misleading appearances.

The following examples illustrates no change in beneficial ownership of securities to create a false impression of active trading activities in a particular securities.

Example 1: Customer A has one trading account and used the same trading account number to trade
Customer A places an order via the Internet to buy x number of shares in Company XYZ at $0.50 in the market. Following the first order placed, he later keyed-in another order, via the Internet, to sell shares in Company XYZ at the same price in the market. The sell order was matched (completely or partially) against his own buy order in his trading account in the market. The reverse also applies where customer A’s sell order matches against his subsequent buy order.

Example 2: Customer B has multiple accounts (Cash / Margin) opened with OSPL and used a different trading account number to trade
Customer B places an order under his cash account, via the Internet, to buy x number of shares in Company XYZ at $0.50 in the market. Following the first order placed, he keyed-in another order, under his margin account (i.e. different trading account number), via the Internet, to sell shares in Company XYZ at the same price in the market. The sell order was matched (completely or partially) against his own buy order in his cash accounts in the market. The reverse also applies where customer B’s sell order in his cash account matches against his subsequent buy order in his other accounts.

The above Examples have the effect of creating a “wash sale”. A wash sale is a purchase or sale of any securities that does not involve a change in the beneficial ownership of those securities.

A person engaging in wash sales in securities is deemed to have created a false or misleading appearance of active trading in securities on a securities market unless the person establishes that the purpose for which he conducted the wash sale was not, or did not include, the purpose of creating a false or misleading appearance of active trading in securities on a securities market.

Apart from the above, there are some other market conduct offences under the SFA and Exchange Rules which apply generally to a person as follows:
Securities and Futures Act (“SFA”)

SFA Section 198: Securities market manipulation

SFA Section 199: False or misleading statements

SFA Section 200: Fraudulently inducing persons to deal in capital market products

SFA Section 201: Employment of manipulative or deceptive devices

SFA Section 201A: Bucketing

SFA Section 201B: Manipulation of price of derivatives contract and cornering

SFA Section 202: Dissemination of information about illegal transactions

SFA 204: PENALTIES

You may refer to Statutes Online Database for more information.

Rules of the Exchanges

SGX-ST Rule 5.12 – Engaging in any course of conduct that is likely to create a false or misleading appearance.

Futures Trading Rule 3.4.1 – Market Manipulation

Futures Trading Rule 3.4.3 – False Trading, Bucketing, Fraudulent Inducement to Trade and Employment of Fraudulent Devices 

Futures Trading Rule 3.4.5 – Dissemination of False or Misleading Information

Futures Trading Rule – 3.4.9 Fictitious Transactions without Change in Ownership

Futures Trading Rule – 3.4.15 Prohibited Conduct

SGX-ST Rule 5.11 – Excessive Trading

Exchange rules on Unauthorised Trading – In line with SGX-ST Rule 5.10 and Futures Trading Rule 3.3.4, customer must not allow:

1. your Trading Representative to trade using your account;
2. your Trading Representative to execute your trades in the Representative’s personal account; and
3. third party to use your account for their personal trades.

You may refer to the Exchanges’ rules from www.sgx.com for details on the above.

We are committed to providing you with quality service. We will promptly attend to any queries, problems, grievances or disputes which you may have in respect of or arising out of OCBC Securities Online Trading.

You can call us at 1800 338 8688 or (65) 6338 8688. We are available to attend to you from 8.30a.m to 5.30p.m (Mondays to Fridays, excluding Singapore Public Holidays). We will advise on the immediate steps to be taken by you and/or actions that we will take.

Alternatively, you may send us an email to askocbcsec@ocbc.com and we will try to respond to you within 24 hours provided that we receive your notification during business hours and the following day is not a Saturday, Sunday or public holiday, in which case we will reply on the next business day.

Without prejudice in any way to either party's right to take immediate steps to seek urgent relief before a Singapore court or the right to seek legal redress, we will immediately investigate any claim/dispute brought to our attention and will attempt to revert to you within seven (7) working days from the date of receipt of notification. Soon thereafter, we will consult you in good faith with a view to reaching a quick and amicable resolution of the matter, satisfactory to both parties.