New Singapore stock index hitch frustrates traders

SINGAPORE, Jan 10 (Reuters) - Singapore's new Straits Times .FTSTI share index, launched on Thursday, suffered a hitch on its first day that left many investors frustrated without real-time quotes on their screens, traders said.

Traders using GL Trade, the system that is being rolled in to replace the Singapore Exchange's (SGXL.SI) SESOP terminals, told Reuters that they can no longer get the latest index reading on their trading screens.

Officials at GL Trade, a Paris-based financial services firm, were not immediately available for comment.

A Singapore Exchange spokesman said SGX and its partners, FTSE Group and Singapore Press Holdings (SPRM.SI), are providing traders with live quotes for free and that the broking firms could also provide the information on their Web sites.

But some traders said they had been told by their firms' technical staff to look at special Web sites for the latest index readings. Their retail clients were also unable to get live quotes from television and teletext.

"I don't think I can make money today, if my retail customers can't see the STI quotes on the TV, they aren't going to call their broker," a trader complained.

SGX, SPH and FTSE on Thursday launched a slimmer 30-stock Straits Times Index as well as 18 other new indices, including an index that tracks China shares listed in Singapore. (Reporting by Kevin Lim, Chua Baizhen and Melanie Lee; Editing by Jan Dahinten) (kevin.lim@reuters.com; +65 6403 5663; Reuters Messaging: kevin.lim.reuters.com@reuters.net)

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