THE chief executive of Singapore Exchange (SGX) , Asia's second-largest listed stock exchange, said on Friday he will not extend his contract, which ends around September 2009.

'I believe the role of any CEO should be limited in duration...there comes a time when it's time to move on,' CEO Hsieh Fu Hua told reporters after a meeting of the firm's shareholders.

Mr Hsieh, who has been SGX's chief executive since 2003, added he would not leave before a successor was found.