Comments about SGX uncalled for?

I have heard a lot about this Vincent Khoo over the last couple of weeks and of his numerous letters on SGX and remisiers in the main media. He must have written something ‘right’ to get so much publicity and attention by the media. I have not met him or read any of his ‘renowned’ articles until this morning. I would expect the article to be just as objective and logical for it to be accepted for print in the main media. Although the rankings of our media are not too flattering, topping the list from the bottom up, there must still be some sensible guys to publish non political articles that are deserving and of some quality, at least from the point of logic and objectivity.
 
The first comment by Vincent Khoo this morning is that SGX did not suffer a breakdown. It just decided to close down the exchange for the whole morning. What is a breakdown is subject to different interpretations. The official reason was that SGX was downloading a new programme overnight and some users would need some time to reconcile some of the trades. So SGX decided to close down a regional market, no trading for the whole morning. Whether this is an acceptable practice for a big regional market was not discussed.
Assuming that a major stock market can suka suka close down for whatever reasons it deems fit, can this logic be applied to other organizations like the trains, the TV stations, telecoms or whatever when they feel like it? Or can we see SGX closing down more frequently, not because of breakdowns or system maintenance? Is this the new normal?
 
The next point Vincent chastised the remisiers for is claiming loss of business because of shorter trading hours and also the excuse for the return of a lunch break by extrapolation of trading hours. More trading hours more business and vice versa. To Vincent this is illogical, short of pure heresy. He forgot that the SGX used the same reason to justify for the cancellation of the lunch break. No lunch break means longer trading hours, means increasing in trading and more commission. Is Vincent also saying that the SGX was silly for using this stupid logic?
 
His third point is to quote a remisier claiming to have 50 to 100 trades in the early morning. So remisiers not doing well must learn from this remisier. Is this a sensible suggestion? I just feel like saying don’t talk cock. A swallow does not make a summer. Using statistics to lie, selective picking of statistics to lie, is not very clever. To be fair and objective, one has to use the full set of statistics available to come out with a sensible story. Cherry picking is only for one out to deceive.
 
If one or two remisiers is suffering from poor business, it is reasonable to say they may be the problem though not necessary so. If 70 or 80 percent of the remisiers are suffering from low business, something is obviously wrong. Even if Vincent Khoo is doing exceptionally well, it does not speak for the whole industry. Why doesn’t he quote Peter Lim and say every remisier must be making millions like Peter Lim, otherwise the remisier is underperforming? There are always exceptions and exceptions are exceptions and should not be used as the norm.
 
I am still puzzled why the msm gave this Vincent Khoo so much space to print his one sided and skewed articles? Is his thinking process that logical? Or do the editors of the msm think the articles are logically argued and deserving to be in print?
 
The most important point is whether a regional bourse can suka suka close down its operation whenever it feels like it and be accepted as normal. How many idiots out there think that this is acceptable? I hope SMRT would not stop the train services when it feels like it for whatever reasons. Hsien Loong said the govt must set the standard. Is this the kind of standard for SGX?
 
Comments against SGX for two stoppages uncalled for? What kind of standard are we talking about? Are we another 3rd world city with a 3rd world stock exchange? I think 3rd world stock exchanges also did not have so frequent downtime.

Kopi Level - Blue, thank you.