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Singapore Exchange’s Derivatives Market Hit by IT Outage

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SINGAPORE, April 2 (Reuters) – Trading on Singapore Exchange Ltd’s derivatives market, one of Asia’s major trading venues for equity and commodity contracts, was suspended for over three hours on Tuesday due to technical problems.
In a statement the bourse said that due to a “network hardware interruption” trading was halted between 4.15 pm local time (0815 GMT) and 7.45 pm when trading resumed.
The outage will be a blow to the Southeast Asian exchange operator, which reported that revenue from derivatives trading outstripped revenue from securities trading for the first time at its last set of quarterly results.
The exchange is a major trading venue for equity index contracts linked to the Japanese, Chinese, Taiwanese and Indian stock markets as well as for certain commodity derivatives like iron ore and rubber contracts.
In February 2014 there was an average daily trading volume of 450,251 contracts. (Reporting by Rachel Armstrong, editing by David Evans.)

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