SGX halts trading in its shares after ST report on talk of separate regulatory unit

SGX said that trading in its shares is expected to resume after the release of a full announcement.
SGX said that trading in its shares is expected to resume after the release of a full announcement.ST PHOTO: SEAH KWANG PENG

SINGAPORE - The Singapore Exchange requested a halt in the trading of its shares just before the stock market opened on Monday (July 18).

SGX said the halt was requested to clarify a report in The Straits Times, published on Monday, titled "Weighing the merits of hiving off SGX's policing job".

The commentary said there was talk SGX may be planning to set up a separate unit to house its regulatory functions.

SGX said on Monday that trading in its shares is expected to resume after the release of a full announcement.

SGX, which suffered its longest trading disruption ever last Thursday, has long faced criticism over the perceived conflicts that arise between its roles as a profit-making stock exchange operator and as a market regulator.

Unlike other major stock exchanges, Singapore does not have a dedicated securities regulator. Instead, SGX is the front-line watchdog, and is in turn regulated by the Monetary Authority of Singapore.