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Singapore Exchange resumes normal operations after trading halt


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Singapore Exchange resumes normal operations after trading halt

SingaporeExchange Ltd. resumed normal operations July 15 after of securitiesthe previous day due to a technical issue.

The bourse said it identified missing and duplicate tradeconfirmation messages in its system and placed the market into an adjust phaseat 11:38 a.m. Singapore time on July 14. It initially planned to resume tradingat 2 p.m. local time, but challenges in reconciling the missing and duplicatemessages prompted the exchange to close the market for the rest of the day.

In an adjust phase, orders can be placed, removed or amendedbut no matching takes place, the bourse said.

It was not the first time in recent years that SGX had tohalt trading due to technical issues. The company and Magnus Böcker, thethen-CEO of the company, faced criticism over trading suspensions in late 2014due to technical glitches.Böcker stepped downin 2015 after the expiry of his contract.

The most recent trading halt occurred exactly a year aftercurrent CEO Loh BoonChye assumed role in July 2015. Loh apologized for the marketdisruption, saying the exchange's recovery time has to be better and that itmust minimize downtime for market participants.