There are 5 types of membership:
(a) Ordinary
(b) Associate
(c) Alumni
(d) Honorary
(e) Institutional Membership
(a) Ordinary Membership may be offered, at the sole discretion of the Committee to all Wholesale Traded Financial Markets Practitioners carrying out Front Office activities and Front Office Support Professionals who:
(i) are employed in a financial institution regulated and/or supervised by the MAS (where such financial institution is established or registered in Singapore) or by any other official regulatory authority (where such financial institution is established or registered outside of Singapore); and
(ii) have been employed under such qualifying criteria in the foregoing Clause 5(b)(i) above for a continuous period of at least twelve (12) months
(b) Associate Membership may be offered, at the sole discretion of the Committee, to:
(i) individuals falling outside the categories set out in Clause 5(b) but who satisfy such criteria as may be prescribed by the Committee; or
(ii) corporations which do not meet the criteria in Clause 5(f) but have a business which is related to Wholesale Traded Financial Products.
(c) Alumni membership shall be open to individuals who had previously qualified for Ordinary Membership but had since left the employment of their former institutions.
(d) Honorary Membership shall be granted to any Member by the Committee in its sole discretion in recognition of services rendered by such Member to the Association.
(e) Institutional Membership may be offered, at the sole discretion of the Committee, to any corporation which has a business that is:
(i) regulated and/or supervised by the MAS or by any othervofficial regulatory authority; and
(ii) related to Wholesale Traded Financial Products
Institutional Membership may be offered, at the sole discretion of the Committee, to any corporation which has a business that is:
(i) regulated and/or supervised by the MAS or by any other official regulatory authority; and
(ii) related to Wholesale Traded Financial Products
(f) An Institutional Member may appoint a prescribed number of Institutional Member Representatives as determined by the Committee and all Institutional Member Representatives shall:
(i) be under the employment of the Institutional Member; and
(ii) satisfy the criteria set out in Clause 5(b).
(g) The number of Institutional Member Representatives which an Institutional Member may appoint under Clause 5(f) shall be determined by the Committee based on the amount of subscription fees paid by the Institutional Member. In this connection, an Institutional Member who has paid a larger amount of subscription fees shall be permitted by the Committee to appoint a larger number of Institutional Member Representatives as compared to another Institutional Member who has paid a smaller amount of subscription fees.
(h) An Institutional Member Representative shall receive all the benefits of Ordinary Members and shall have the same rights and privileges as Ordinary Members unless otherwise stated in this Constitution.
(i) An Institutional Member Representative's appointment shall automatically cease when the Institutional Member Representative's employment with the Institutional Member ceases, save that, where an Institutional Member Representative has been elected to the Committee, the Committee may at its sole discretion permit such Institutional Member Representative to complete his or her term in the office of the Committee as set out in Clause 8(b).
(j) An Institutional Member shall have the right to replace an appointed Institutional Member Representative not more than once every 6 months.
Institutional Membership may be offered, at the sole discretion of the Committee, to any corporation which has a business that is:
(i) regulated and/or supervised by the MAS or by any other official regulatory authority; and
(ii) related to Wholesale Traded Financial Products
(f) An Institutional Member may appoint a prescribed number of Institutional Member Representatives as determined by the Committee and all Institutional Member Representatives shall:
(i) be under the employment of the Institutional Member; and
(ii) satisfy the criteria set out in Clause 5(b).
(g) The number of Institutional Member Representatives which an Institutional Member may appoint under Clause 5(f) shall be determined by the Committee based on the amount of subscription fees paid by the Institutional Member. In this connection, an Institutional Member who has paid a larger amount of subscription fees shall be permitted by the Committee to appoint a larger number of Institutional Member Representatives as compared to another Institutional Member who has paid a smaller amount of subscription fees.
(h) An Institutional Member Representative shall receive all the benefits of Ordinary Members and shall have the same rights and privileges as Ordinary Members unless otherwise stated in this Constitution.
(i) An Institutional Member Representative's appointment shall automatically cease when the Institutional Member Representative's employment with the Institutional Member ceases, save that, where an Institutional Member Representative has been elected to the Committee, the Committee may at its sole discretion permit such Institutional Member Representative to complete his or her term in the office of the Committee as set out in Clause 8(b).
(j) An Institutional Member shall have the right to replace an appointed Institutional Member Representative not more than once every 6 months.
Institutional Membership may be offered, at the sole discretion of the Committee, to any corporation which has a business that is:
(i) regulated and/or supervised by the MAS or by any other official regulatory authority; and
(ii) related to Wholesale Traded Financial Products
(f) An Institutional Member may appoint a prescribed number of Institutional Member Representatives as determined by the Committee and all Institutional Member Representatives shall:
(i) be under the employment of the Institutional Member; and
(ii) satisfy the criteria set out in Clause 5(b).
(g) The number of Institutional Member Representatives which an Institutional Member may appoint under Clause 5(f) shall be determined by the Committee based on the amount of subscription fees paid by the Institutional Member. In this connection, an Institutional Member who has paid a larger amount of subscription fees shall be permitted by the Committee to appoint a larger number of Institutional Member Representatives as compared to another Institutional Member who has paid a smaller amount of subscription fees.
(h) An Institutional Member Representative shall receive all the benefits of Ordinary Members and shall have the same rights and privileges as Ordinary Members unless otherwise stated in this Constitution.
(i) An Institutional Member Representative's appointment shall automatically cease when the Institutional Member Representative's employment with the Institutional Member ceases, save that, where an Institutional Member Representative has been elected to the Committee, the Committee may at its sole discretion permit such Institutional Member Representative to complete his or her term in the office of the Committee as set out in Clause 8(b).
(j) An Institutional Member shall have the right to replace an appointed Institutional Member Representative not more than once every 6 months.