Singapore Exchange Resumes Derivatives Trade After BreakdownSterling Wong
Derivatives trading on Singapore Exchange Ltd. resumed late Monday after a near two-hour disruption caused by a technical fault.
SGX, Southeast Asia’s biggest bourse, said its derivatives market reopened at 9.30 p.m. Singapore time after it was suspended at 7.56 p.m. Trading resumed at 9.45 p.m.
“The market will close per normal. We apologise for any inconvenience caused,” the exchange said in a statement.
SGX trades a range of derivatives products from 7:40 a.m. Singapore time through 2 a.m. the following day.
The Monetary Authority of Singapore reprimanded the exchange in June for two trading disruptions that occurred last year. The breakdowns in November and December marred the stewardship of SGX by former chief executive officer Magnus Bocker, whose term ended end-June.
He was replaced by Loh Boon Chye, formerly Bank of America Corp.’s head of Asia-Pacific global markets.
Derivatives trading is a growing part of SGX’s business. In the year ended June 30, it accounted for more than a third of the exchange’s revenue, increasing 42 percent to S$295.7 million ($215 million).
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