Singapore Derivatives Breakdown Sends Futures Traders to Osaka
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Malfunctioning software at Singapore Exchange Ltd., operator of Southeast Asia’s largest bourse, delayed derivatives trading for three hours and sent investors to Osaka to buy and sell Japanese index contracts.
Nikkei 225 Stock Average futures volume on Osaka Securities Exchange exceeded Singapore’s for the first time since Feb. 11 as the error prevented any derivatives trading until 10:45 a.m. Singapore time. The outage affected futures on the FTSE China A50 Index, India’s CNX Nifty Index and Japan government bonds.