SGX Tallies Cost of Disruptions After Regulator’s Reprimand
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Singapore Exchange Ltd. will pay S$1 million ($743,000) into an education fund after two trading disruptions earned a reprimand from the city-state’s regulator and a bar on raising fees until fixes are cleared.
“There will be a moratorium on fee increases for the securities and derivatives markets with immediate effect until the improvements are completed,” the Monetary Authority of Singapore said on Wednesday after the exchange announced it will spend S$20 million to improve trading systems. “Following the discussion with MAS on the incidents, SGX has also decided to contribute S$1 million to its Investor Education Fund.”