SGX suffers delay in derivates trading

This less than 6 months after SGX CEO apologized for a previous disruption.

Futures on the Nikkei 225 Stock Average, which usually open at 7:30 a.m. local time, began trading at about 10:15 a.m., according to data compiled by Bloomberg. The contract is one of the most popular at Singapore Exchange, with 133,000 of the December futures changing hands on the venue Wednesday. The delay also affected India’s Nifty 50 Index Futures, which usually start trading at 9 a.m. local time, and iron ore contracts, Bloomberg data show.

SGX has had a number of technical issues hit its markets in recent years. In July, it halted stock trading mid-morning and failed to reopen for the rest of the day, despite two pledges to do so. CEO Loh Boon Chye apologized for that malfunction, while his predecessor, Magnus Bocker, in 2014 issued a public apology after two trading disruptions in the space of a month. Those mishaps led to a reprimand from the Monetary Authority of Singapore.

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