SGX forms recommending body to toughen securities market

In response to July’s market disruption.

The local bourse has organized a Securities Industry Working Group (IWG) as it seeks to improve the resilience of its operations.

Singapore Exchange (SGX) said it consulted the Monetary Authority of Singapore before forming the team that will assess and make recommendations on SGX and industry participants processes to step up the city-state’s securities market’s sturdiness.

“In making their recommendations, the IWG will take into consideration the findings form feedback garnered from members and participants as wells as SGX’s own investigations following the 14 July market disruption,” SGX explained.

The panel is made up of a broad base of stakeholders and is chaired by Ho Tian Yee, board member of DBS Group Holdings and chairman of Fullerton Fund Management.

“In addition to SGX management, the other 12 members include local and international members of SGX’s securities market, representatives from the investment community, independent experts and software vendors,” the bourse said.