18 Jan '11, 10pm

Singapore Exchange will scrap its daily 90-minute lunch break

SINGAPORE - The Singapore Exchange (SGX), which reported a 14-per-cent jump in its second-quarter net profit to $81.7 million yesterday, will scrap the daily 90-minute lunch break and adopt continuous trading from 9am to 5pm from March 1. The exchange, which attributed its higher profits to increased trading in the securities market, is poised to record even higher earnings in the coming quarters with the continuous trading regime, analysts said. In another move that could potentially raise its income, the SGX said it was already in talks with various regulatory bodies in Australia about its proposed merger with the Australian Securities Exchange (ASX). "We continue to work with the relevant stakeholders, including (Australia's) Foreign Investment Review Board, with the aim of completing the proposed combination in 2011," said SGX chief executive Magnus Bocker. The SGX sai...

Full article: http://www.todayonline.com/Business/EDC110119-0000251/Goo...

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