18 Apr '13, 6pm

Singapore Exchange checks derivatives system after trading was delayed by glitch last week

Singapore Exchange checks derivatives system after trading was delayed by glitch last week

Singapore Exchange Ltd. (SGX) , operator of Southeast Asia ’s biggest bourse, said it’s reviewing procedures after derivatives trading was delayed by a computer breakdown last week, sending investors to alternate venues. The three-hour delay, caused by a faulty system-monitoring process, sent investors to Osaka to buy and sell Japanese index contracts on April 9. The disruption in the bourse’s fastest- growing business, happened as the company plans to roll out new products amid record derivatives trading. “We have taken preventive measures to make sure it doesn’t happen again,” Chief Financial Officer Chng Lay Chew said in an interview in Singapore April 17. “Improving market sentiment and rising volatility will continue to drive growth in the derivatives market .” Disruptions in electronic markets have been under scrutiny since the May 2010 flash crash in the U.S. that b...

Full article: http://www.bloomberg.com/news/2013-04-18/sgx-checks-deriv...

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