View from watchtower as the pennies fall
SGX's head of surveillance regulation talks about one of the most exciting days of his 14-year career and what keeps him motivated at the Exchange
Singapore
ON Oct 4, 2013, Kelvin Koh, head of surveillance regulation at the Singapore Exchange (SGX), was at work by 8am, just a little earlier than usual; he would not leave for home that day until about 10pm, though.
When the markets opened at 9am, the stocks of a few counters began to collapse - wiping out hundreds of millions of dollars of market value and sending a shock wave across the market. In the next half-hour, SGX sent out a number of trading queries.
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