OREANDA-NEWS. Singapore Exchange (SGX) today said that its securities market will open per normal on 15 July, following a market disruption yesterday.

At 0938 hours on 14 July 2016, a technology issue affecting SGX’s trade confirmation processes was identified, and a cutover from our primary to secondary trade confirmation systems was initiated at 1012 hours. Trade confirmations resumed at 1014 hours.

However, missing and duplicate trade confirmation messages were identified and SGX put the market into an ‘adjust phase’ at 1138 hours. 

An adjust phase allows orders to be placed, removed or amended but no matching takes place. This enables members and investors to review and manage their orders. The market was orderly throughout the time it was open.

Challenges in reconciling the missing and duplicate messages resulted in a longer process than expected. SGX decided to close the market for the rest of the day on 14 July 2016 to ensure a fair, orderly and transparent market, having taken into consideration members’ feedback.

SGX CEO Loh Boon Chye said, “We sincerely apologise for the market disruption. Our recovery time has to be better and we must minimise downtime for market participants.  I would like to thank our members and participants for working closely with us to resolve the issue.”

Investors can check on the status of their orders with their brokers. Members of the public can check our website for further updates if any, or call our hotline at (65) 6535 7511.