Singapore Exchange Ltd (SGX) on Wednesday delayed the start of its securities market trading citing a software problem, a month after a power failure suspended trading in stocks and derivatives for hours.
The software defect was rectified but the delay will cause fresh headaches for a bourse that is already grappling with a lack of large new listings and a sharp slide in equity trading volumes following a penny stock scandal last October.
SGX said securities market would open at 12:30 p.m. (0430 GMT) instead of its usual 9:00 a.m. The pre-open routine would begin at 12:00 p.m. and the market would remain open until 5:00 p.m. and close as usual.
The delayed opening was to enable member firms to complete client position reconciliations and rectify errors in end-of-day processing for Dec. 1 on the securities client-accounting system hosted by SGX on behalf of dealers.