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Stocks

Singapore Exchange suspends securities trading for day

SINGAPORE -- Since late Thursday morning Singapore Exchange (SGX) has suspended trading in its securities market due to a technical glitch. 

The bourse originally announced in a press release the halt of trading at 11:38 a.m. Singapore time. Early in the afternoon, SGX said trading would resume at 2 p.m., but just before the scheduled restart, it released another statement that said the market was not yet ready to reopen.

Yet another statement announced the market would reopen at 4 p.m. and open as normal on Friday. However, SGX has retracted that statement and said the market will not resume trading today. 

Orders can be put in, taken out or amended while the market is closed, but the orders will be matched only after the market reopens, according to the bourse. 

SGX explained that trading was suspended due to a glitch that sent out duplicate trade confirmation messages. The bourse said no actual duplicate trades were executed, and the message system is being restored.

SGX has experienced a number of technical glitches that interfered with trading in the past two years. In November and December 2014, the bourse saw two incidents that disrupted trading in its securities and derivatives markets for several hours, prompting scrutiny from local authorities and traders.

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