The Singapore Exchange (SGX) is back online Friday, following several delays caused by a technical disruption. Overall the exchange was dark for nearly five hours of live trading, ultimately coming back online earlier today. The lag has caused no shortage of frustration and anger by investors whose orders had essentially been unfulfilled as of Friday morning.
According to SGX’s CEO Loh Boon Chye in a recent statement on the delay: “I wish to sincerely apologize on behalf of all at SGX for the many inconveniences I’m aware that we’ve caused. We’re not pleased with our own recovery time and it needs to be better. We’ll do better.”
The latest malfunction raises questions about the prowess and efficiency of the exchange itself, given that this instance represents the third time that trading has been suspended as a result of technical difficulties – August and October 2015 both saw similar delays.
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We’re not pleased with our own recovery time and it needs to be better
The logistics of navigating through such a high amount of orders on an entire exchange could prove daunting, specifically for a period of delays as large as the one seen on SGX. While a few seconds can make or break trades, the prospect of several hours of inactivity and lags has not sat well with traders.
Compounding this frustration was multiple calls to reopen the market, which SGX failed to heed. Trading was supposed to resume at 14:00 local time and 16:00 local time, but ultimately came back online Friday morning at 9:00 local time.