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SGX's lapses risk breaking traders' patience

Singapore Business Review
SGX's lapses risk breaking traders' patience

It had suffered four disruptions in the past 18 months.

According to Bloomberg, Singapore Exchange Ltd. executives may need reminding of the rules set by Monetary Authority of Singapore, which states that "the potential impact of a major operational disruption may incapacitate the financial system. The quick recovery of business functions after disruption is therefore crucial in maintaining confidence in institutions."

Right now, it's fair to say that confidence in that institution has been shaken. Futures on the Nikkei 225 Stock Average, which usually open at 7:30 a.m. local time, didn’t start trading on Thursday until about 10:15 a.m. The delay also affected contracts on India’s Nifty 50 Index and iron ore.The exchange gave little information publicly about what happened. Given the implications, it's understandable that SGX might prefer to avoid talking about it.

Read the full story here.



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