SGX facing up to its challenges: Ong Ye Kung

Singapore

THE Singapore Exchange (SGX) is not sitting still in the face of challenges, MAS director and Acting Minister for Education (Higher Education and Skills) Ong Ye Kung told Parliament on Tuesday.

"It is building on its existing strengths, staying nimble to new opportunities and working to improve system resilience," he said in response to opposition Member of Parliament Sylvia Lim.

She had asked the Prime Minister whether, given SGX's challenges in recent years, the government was still upbeat about the local bourse; she also wanted to know SGX's role was in Singapore's economic development, and the steps taken to work with it to achieve the desired outcomes.

Mr Ong, appointed last month as a director on the board of the Monetary Authority of Singapore (MAS), said that though SGX was taking steps to deal with its recent woes, it needed to do better to c…