ASX won’t resume trading today following outage
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The ASX says it has identified the issue that caused a market outage this morning – but didn’t manage to fix it before trading could resume today.
The stock exchange paused all equities trading at 10.24am to investigate “market data issues” after it migrated to a new trading platform over the weekend.
“ASX apologies for the disruption and is working to rectify the issue as soon as possible,” an ASX spokesman told Stockhead in an email.
The ASX200 was up 79.1 points, or 1.23 per cent, when trading was paused.
Investors were standing by with advice:
Take the cartridge out of the super nintendo and blow on the inside gently, that should fix it.
— Ellse (@Ellse1111) November 16, 2020
Today was the day ASX was supposed to go live with the “ASX Trade Refresh” trading system following four weekends of “dress rehearsals” since the start of the year.
The ASX said trading would resume at 10am on Tuesday.
It’s been a rough month for the ASX. On October 12, its new website froze on debut after its first update in several years.
Investors were unable to view company announcements, and when it did come back online, the speed of the site was poor enough to have professional and retail stock watchers alike venting on Twitter and stock forums.
The ASX’s last outage was on 19 September 2016 when a hardware failure caused the market to open at 11.30am and close at 2.05pm.
Its last outage prior to that was for four hours on 27 October 2011 – an options expiry day – due to network connectivity issues.
Across the Ditch, New Zealand’s NZX was down for four days in a row in August following cyberattacks that knocked its website offline. While the attacks didn’t affect its trading platform, the NZX suspended trading because market participants couldn’t read company announcements.