SINGAPORE, March 20 (Xinhua) -- Singapore Exchange (SGX) on Monday announced that it has adopted the recommendations of Industry Working Group (IWG) to improve its operational resilience.
The move comes after a supervisory investigation was conducted into trading disruption to the securities market on July 14 last year.
In consultation with Monetary Authority of Singapore (MAS), the bourse formed the IWG in September 2016 to assess and make recommendations by the first quarter of 2017.
IWG's report to MAS recommends improvements in six areas, namely restoration of corrupt data, market recovery procedures, market closure and resumption timelines, trade assumption, incident communication as well as business continuity scenarios.
MAS has accepted IWG's recommendations and directed SGX to complete the implementation of these recommendations within 24 months.
The implementation of these recommendations will involve changes to the systems and processes of both SGX and the brokerage firms. Enditem
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