Australia bourse halts trading on 'market data issues'

Andrew Cummings
November 17, 2020

The Australian Securities Exchange shut down for business all-day Monday after a software glitch in a new trading system provided by Nasdaq disrupted the market opening.

"The ASX equity market is now paused and there is no trading while we investigate market data issues", ASX said on Twitter without giving more details, but said it was working to rectify the issue as soon as possible.

"We are focused on ensuring that ASX reopens in an orderly manner on Tuesday 17 November, and that market integrity is not compromised".

The S&P/ASX 200 index gained 1.3 per cent at 6,487.30, its highest since March 8.

The problem came to light as the ASX's new equity market trading platform went live on Monday, despite more than a year of testing by customers, third parties, the ASX and Nasdaq NDAQ.O.

The ASX has apologised for the disruption and is working to rectify the issue as soon as possible.

"The outage falls short of the high standards we set ourselves and the standards others expect of us", the CEO said in a statement.

"While I am disappointed with today's outage, we are determined to continue our program of contemporising ASX's technology stack from top to bottom."

ASX "accepts responsibility", Dominic Stevens, chief executive officer Dominic Stevens said.

The good news about COVID-19 vaccines, higher oil prices, Telstra's revamp and the impact of rotation on industrial, financial and property stocks, drove last week's gains, along with a clearer picture from the US Presidential election.

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