Under what circumstances is contra performed?

Contra is performed as long as there is a corresponding SELL contract to match against an outstanding BUY contract of the same counter (not applicable to CPF/SRS trades) on condition that the outstanding BUY contract is purchased ON or BEFORE the SELL contract date. The quantity of both contracts (i.e. BUY and SELL) may not exactly match and the Contra quantity is based on the lesser number.    

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