SGX's Continuity Lapse

In the digital age, the ability to keep operating even in the midst of internal failures. known as business continuity planning, can mean the difference between survival and going under. When it comes to big banks or exchanges, the health of the entire financial system can be at stake.

Perhaps the simplest definition of why the issue is so important is contained in the first two paragraphs of the Monetary Authority of Singapore's guidelines, published as early as 2003 and updated several times since:

    "The potential impact of a major operational disruption may incapacitate the financial system. The quick recovery of business functions after disruption is therefore crucial in maintaining confidence in institutions."

Singapore Exchange Ltd. executives may need reminding of those rules. Right now, it's fair to say that confidence in that institution has been shaken.

Futures on the Nikkei 225 Stock Average, which usually open at 7:30 a.m. local time, didn’t start trading on Thursday until about 10:15 a.m. The delay also affected contracts on India’s Nifty 50 Index and iron ore.

Link: SGX's Continuity Lapse