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Singapore Exchange halts trading of shares pending announcement

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Singapore Exchange halts trading of shares pending announcement

SingaporeExchange Ltd. asked to halt the trading of its shares before themarket opened July 18, after the StraitsTimes reported the same day that it could spin off its regulatory functionsinto a separate unit.

SGX intends to release a full announcement in response tothe report and plans to resume trading after the announcement is posted.

The bourse acts as both a profit-making exchange and amarket regulator in the absence of a dedicated securities watchdog inSingapore, the publication noted. It previously faced criticism due to conflictsthat may arise from its dual role.

The report follows a July 14 , which eventuallyclosed the market forthe rest of the day.