“Inspiring Technology: 34 Breakthroughs”: Download IEEE’s 140th anniversary book for FREE.

Close bar

Australian Securities Exchange Restored After Going Dark

Second time in less than a year

1 min read
Australian Securities Exchange Restored After Going Dark

News reports out of Australia today say that the problem that shut down the Australian Securities Exchange (ASX) today for four hours has now been resolved.

According to the IBTimes, about 5 minutes after the ASX opened at 1000 local time, the ASX was shut down due to a "technical fault" with its trading platform. However, this evening local time, ASX sent out a press release (PDF) stating:

"The market was halted due to a network connectivity issue that prevented participants from interacting with the trading platform."

ASX also said trading activity should be normal tomorrow. Trading soared once the system was restored at 1400 local time, the Sydney Morning Herald reported.

Traders were frustrated with the outage - the second one this year - because they were very anxious to trade on the news of (yet another) agreement by EU leaders to address the debt crisis there.

Next Monday, the first-foreign owned stock market competitor to ASX called Chi-X Australia is being launched. One couldn't ask for better timing, at least from Chi-X's perspective.

The Conversation (0)