The longest trading disruption in the Singapore Exchange's (SGX) history was triggered by disk failure and a software application that did not detect the problem.
Compounding the situation, attempts to reopen the market last Thursday were stymied by problems in the orders and trade confirmation process, the SGX disclosed yesterday.
Trading was halted for over five hours that day after the discovery of a technical fault that resulted in some clearing messages not being generated and some trade confirmation messages being duplicated.
The hardware was supplied by computer giant and IT firm Hewlett- Packard (HP), while the software application was from United States stock exchange Nasdaq.
SGX chief executive Loh Boon Chye told reporters yesterday that the root cause was "a faulty disk that runs the applications that generates trade confirmation messages".
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Compounding the situation, attempts to reopen the market last Thursday were stymied by problems in the orders and trade confirmation process, the SGX disclosed yesterday.
Trading was halted for over five hours that day after the discovery of a technical fault that resulted in some clearing messages not being generated and some trade confirmation messages being duplicated.
The hardware was supplied by computer giant and IT firm Hewlett- Packard (HP), while the software application was from United States stock exchange Nasdaq.
SGX chief executive Loh Boon Chye told reporters yesterday that the root cause was "a faulty disk that runs the applications that generates trade confirmation messages".
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