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Singapore's derivatives market reopens

Xinhua, August 4, 2015 Adjust font size:

Singapore Exchange's (SGX) derivatives market opened per normal on Tuesday following a trading suspension on Monday evening.

The market opened with pre-opening at 7:30 a.m. local time and continuous trading at 7:40 a.m., and a temporary suspension of trading took place at 7:56 p.m. hours after a number of trading participants experienced problems connecting to the derivatives market due to an intermittent technical failure, SGX said in a news release.

SGX switched certain services to backup systems to ensure that all members were fully able to connect and trade. Trading resumed at 9:30 p.m. The exchange also apologized for the inconvenience caused in its statement.

Monetary Authority of Singapore (MAS) has reprimanded SGX for lapses related to the market outages in 2014 and directed the exchange to improve its recovery capabilities and processes.

Trading on SGX was halted for nearly three hours on Nov. 5, 2014 following a technical glitch, and another outage on Dec. 3 last year delayed market opening to errors in reports generated by SGX's client accounting system. Endi