The second cost is the damage to the exchanges reputation and investor confidence, which would be even more difficult than figuring out the straightforward financial impact. If the Nov 5 breakdown was already hugely embarrassing for an exchange that harbours world-class aspirations and positions itself as an Asian gateway, then Wednesdays three-and-a-half hour closure because of a software problem in the settlement system must be seen as being disastrous. How to repair this? It will not be easy but the starting point has to be SGXs overcoming its state of denial and admitting that instead of this being a quality market, there is something fundamentally wrong that needs fixing.
Posted on: Sat, 06 Dec 2014 05:57:24 +0000
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