Singapore Exchange CEO Sorry for Halt That Angered Traders
- CEO Loh says that bourse operator will be held accountable
- MAS says it takes a serious view of the market disruption
Malfunction Ruins Singapore Exchange CEO's Anniversary
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Singapore Exchange Ltd. Chief Executive Officer Loh Boon Chye apologized for a technical malfunction that angered traders, promising to do better and saying the company will be accountable for Thursday’s five-hour halt that attracted a rebuke from the city-state’s central bank.
The Monetary Authority of Singapore said it will review SGX’s investigation findings before deciding on “appropriate supervisory actions.” The exchange has the responsibility to ensure that its system and recovery processes are robust, and the central bank takes a serious view over the market disruption, an MAS spokesman said.