Published On: Thu, Oct 27th, 2011

ASX Trading Outage

ASX Trade, the platform upon which various order books of the Australian Securities Exchange (ASX) operate, resumed trading at 2.00pm today after being halted just after 10.05am.

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

ASX Trade markets closed today as normal and are expected to open at the regular time of 10:00 am tomorrow. The ASX 24 futures market operated normally throughout the day.

ASX’s technical team worked in conjunction with its technology provider – NASDAQ OMX – to resolve the issue.

The connectivity issue was not related to the introduction of competition next week, and will not affect ASX’s ability to provide the clearing, settlement and other services necessary to support the launch of Chi-X.

Elmer Funke Kupper, ASX Managing Director and CEO, said: “Today ASX did not meet the high standards that we set for ourselves and that our customers expect.

“ASX has a strong reputation for the quality and reliability of its systems, and this incident gave me a first-hand experience of the way our technical team resolves significant issues. As the new Chief Executive of the company I am committed to the continued investment in our systems to ensure we deliver world-class products, latency and reliability.”

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