The trading scandal, the biggest to hit the city-state since rogue trader Nick Leeson bankrupted Britain's Barings Bank in 1995, has triggered growing calls for tighter supervision.

The exchange however maintained it would not make any changes until investigations are completed into how the mainland's jet fuel trading firm lost the huge sum on derivatives gambles.

Singapore's Commercial Affairs Department (CAD), which probes white collar crime, and international audit firm PriceWaterhouseCoopers are currently carrying out separate investigations into CAO.

"The CAO case brings to focus such issues as internal and risk management controls and corporate governance practices of a listed company," the exchange said.

"What these issues are will only be fully known when (PriceWaterhouseCoopers) and CAD investigations are completed.

"It is thus premature to discuss the regulatory changes that should be made."

The exchange also defended its track record, listing measures introduced over the last two years as evidence that efforts have been made to maintain corporate guidance standards.

These measures included requiring listed firms to release quarterly financial reports instead of half-yearly filings and using corporate investigations when necessary to evaluate firms seeking a listing, the exchange said.

"(The exchange's) regulatory standards continue to be applied in a stringent manner to all listed companies and those seeking a listing on its bourse, be they local or foreign companies," the exchange said.

"The listing rules have been increasingly strengthened for market relevance and effectiveness," it said.

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