SINGAPORE Nov 2 Shares of Singapore Exchange
(SGX) , Asia's second-largest listed bourse, fell as
much as 2.9 percent on Wednesday, on worries that the bankruptcy
of U.S. brokerage firm MF Global could hurt its trading
At 0230 GMT, shares of SGX were 2.1 percent lower at S$6.39
percent, underperforming the benchmark Straits Times Index's
0.8 percent loss.
"MF Global is a big clearing member and it'll definitely
affect trading volumes in the short term. It may not be as big
here as in the U.S. or Australia, but there's still exposure,"
said a local trader.
SGX said on Monday it had told MF Global's Singapore unit
not to take any more derivative positions and to reduce existing
positions. It said the brokerage was also meeting its financial
obligations to the exchange's clearing house.
MF Global, which filed for bankruptcy in the United States
on Monday, said its Singapore unit has appointed KPMG to oversee
the winding down of the company.
(Reporting by Charmian Kok; Editing by Matt Driskill)