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Power fault blamed for SGX’s 3-hour disruption Wednesday

Nurdianah Md Nur | Nov. 6, 2014
Trading activities were suspended for about 3 hours.

Trading activities on the Singapore Exchange (SGX) were disrupted around 2.18 pm Wednesday (5 November 2014).

In a press statement, the securities and derivatives markets attributed the outage to "multiple power supply issues affecting SGX's hardware providing market participants' connectivity."  SGX added that the disruption "did not rise from a cyber attack."

Trading was formally halted at 2.51 pm. Trade in the securities market eventually reopened at 5.15 pm while the derivatives market reopened for trading at 7 pm and closed at 2am on 6 November 2014, according to SGX.

"We apologise for the outage and inconvenience caused to market participants," said Tim Utama, chief operations and technology officer of SGX. "We are currently investigating the root cause for the disruption."

Prior to this disruption, SGX reported an outage in April this year when trading was suspended for more than three hours. The last major outage was in 2007 when trading overloaded and crashed the system, causing trading to be disrupted for more than a day. Despite this outage happening during a slow, it caused trading volumes to dip to S$728 million yesterday as compared to the recent average of S$1 billion.

 

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