Australia’s securities and stock exchange (ASX) experienced a software fault that sparked a shutdown early today, right after trading commenced.
This system crash resulted in chaos, as investors could not trade for most of the day even though the equities market hovered high. The shutdown’s detrimental effects are most prevalently seen in that the ASX 200 index was up 1.2% when trading was suspended. Additionally, it comes at a sensitive time, as ASX recently delayed an ambitious plan to incorporate blockchain technology into their systems.
Australia is not the first to be affected by technical glitches in its stock exchange as of late. Last month, the Tokyo Stock Exchange suspended trading for a full day as well following technical difficulties. Additionally, in August, the New Zealand stock exchange suffered a four-day disruption after hackers targeted its website with cyber assaults that swamped its site, blocking access to genuine users. Finally, trading on Euronext NV markets shut down for several hours back in October.
Ultimately, ASX Ltd apologized and confirmed that they have identified the problem and hope to resolve it in time for market opening tomorrow.