SINGAPORE, July 15 — The Singapore Exchange (SGX) said that its securities market will resume trading today following a market disruption yesterday.
“We sincerely apologise for the market disruption. Our recovery time has to be better and we must minimise downtime for market participants.
“I would like to thank our members and participants for working closely with us to resolve the issue,” said SGX chief executive officer Loh Boon Chye in a latest update posted on the exchange's website at 7.01am.
Explaining further, SGX said at 9.38am yesterday, a technology issue affecting SGX's trade confirmation processes was identified, and a cutover from its primary to secondary trade confirmation systems was initiated at 10.12am.
Trade confirmations resumed at 10.14am.
However, missing and duplicate trade confirmation messages were identified and SGX put the market into an “adjust phase” at 11.38am.
An adjust phase allows orders to be placed, removed or amended but no matching takes place.
This enabled members and investors to review and manage their orders.
The market was orderly throughout the time it was open.
Challenges in reconciling the missing and duplicate messages resulted in a longer process-than-expected.
SGX decided to close the market for the rest of the day to ensure a fair, orderly and transparent market, having taken into consideration members' feedback.
Investors can check the status of their orders with their respective brokers.
SGX advised members of the public to check its website for further updates, if any, or call the hotline at (65) 6535 7511. — Bernama
