Double whammy: Consecutive SGX tech glitches “unacceptable”, says MAS

Supervisory actions will be taken if necessary.

The Monetary Authority of Singapore has registered its disappointment with the Singapore Exchange over the stock market’s delayed opening today. The stock market will commence trading at 12:30pm today due to a software glitch that occurred on Monday.

“MAS has registered its disappointment and concerns with SGX over the delayed opening of its securities market caused by a software defect. The lapse is unacceptable, coming within weeks of the recent power breakdown on 5 Nov,” said an MAS spokesperson.

The SGX stated that the glitch was caused by programming changes performed over the weekend.
“MAS has instructed SGX Board and CEO to do a thorough review to address the shortcomings that led to the lapse. MAS will not hesitate to take supervisory actions against SGX if necessary,” the MAS spokesperson added.