SYDNEY, Dec 3 — Singapore Exchange Ltd delayed the start of trading in the city-state’s securities market by 3 ½ hours today, citing a software error.

Southeast Asia’s biggest stock market will start pre-open procedures at noon local time, with continuous trading beginning at 12.30pm, according to a regulatory filing from SGX. The market will remain open until 5 pm Singapore time and close as normal.

“The problem was caused by a software defect which has since been rectified,” according to the SGX statement. “This delayed opening is to enable member firms to complete client position reconciliations, and rectify any errors in the end-of— day processing,” for December 1 on the securities client-accounting system hosted by SGX on behalf of brokers.

The delay comes less than a month after SGX halted trading for more than two hours on November 5 because of a power-supply failure. Singapore’s financial regulator said the next day that it would take action against SGX if lapses were found to be behind the power outage. The exchange operator has opened a probe into the breakdown.

Companies worth a combined US$572 billion (RM1.9 trillion) are listed in Singapore, data compiled by Bloomberg show. SGX’s profit in the three months through September 30 fell 16 per cent from a year earlier, the bourse operator said on October 21. — Bloomberg