The Singapore Exchange suffered a major breakdown yesterday (27 March) when the main trading system was down for more than an hour.
The failure of the 17-year old proprietary Singapore Exchange Securities Order Processing System (SESOPS) left traders unable to process orders.
"We have currently isolated the cause of the trading incident to one group of SESOPS trading terminals," the stock exchange said on its Web site Tuesday, saying the problem, which disrupted SESOPS access for many traders from 8:45 am to 10:00 am, local time, had been fixed.
SESOPS terminals offer the ability to place trades and receive real-time market information.
Yesterday’s system outage was the second incident involving SESOPS in the last month. On 28 February, traders were affected by "slowness in the display of order information." Blaming the problem on high trading volume, the Exchange said the system's trading engine continued operating normally at that time and trades were matched properly during the day.
Traders that use their own systems and do not rely on SESOPS were not affected during the February incident.
The Exchange authorities said they are "committed to a long-term technology programme to upgrade our trading infrastructure and introduce new trading functions." However, the statement did not detail when such an upgrade will take place.
SGX executives could not be reached for comment.