Singapore Exchange Limited (SGX) is inviting public comment on its proposed new business continuity management requirements, which will have to be adopted and implemented by SGX member firms. The objective is to ensure that members have the ability to :-

- manage operational disruptions and contingencies,
- minimise the impact of a major disruption or disaster, and
- resume critical business functions in the shortest possible time.

The SGX guidelines were developed with reference to the Authority of Singapore’s business continuity management guidelines for financial institutions, as well as other international best practices.

Under the framework SGX member firms will be tasked to adopt and implement the following business continuity management measures:-

- Assess business and operational risks and maintain adequate business continuity arrangements.
- Document business continuity arrangements in a business continuity plan, and designate a senior officer to be responsible for the member firm’s business continuity plan.
- Review and test the member firm’s business continuity plan regularly.
- Appoint an emergency contact person, and furnish the contact information of such person to SGX. The emergency contact person is to be contactable at all times.

The proposed new rules and requirements will be implemented under the SGX-ST Rules, Futures Trading Rules, CDP Clearing Rules and SGX-DC Clearing Rules.

Market participants and members of the public are encouraged to participate in this public consultation. The consultation paper which sets out the proposed requirements is available on www.sgx.com until 22 May 2008.

All feedback and suggestions for the proposed changes should be sent via email and either by post/courier or fax:-

Email: rules@sgx.com
Post/Courier: Singapore Exchange Limited
2 Shenton Way, SGX Centre 1, #19-00
Singapore 068804
Attn: Mr Vance Ng, Risk Management and Regulation
Fax: 6534 2207

•Date: 9th May 2008• Region: Asia Pacific •Type: Article •Topic: Financial sector
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