- Trading across the Australian Securities Exchange (ASX) has closed without a resolution to the glitch which stopped trade
- All trading stopped just minutes after market open as the exchange regulator probed “ongoing market issues”
- It’s still not clear what’s causing the problems, but one expert has weighed in and blamed a monthly trade refresh
- Carl Capolingua, an analyst at ThinkMarkets, told The Market Herald he believes a software upgrade could be to blame for the stoppage today
- At this stage, the ASX is expected to resume trade as normal tomorrow, November 17
Trading across the Australian Securities Exchange (ASX) has closed without a resolution to the glitch which stopped trade.
All trading stopped just minutes after market open today, as the exchange regulator probed “ongoing market issues”.
The ASX equity market is currently paused and there is no trading while we investigate market data issues. ASX apologises for the disruption and is working to rectify the issue as soon as possible.
— ASX 🏛 The heart of Australia’s financial markets (@ASX) November 15, 2020
Following close of trade, it’s still not clear what’s causing the problems, but one expert has weighed in and blamed an ongoing software refresh.
Carl Capolingua, an analyst at ThinkMarkets, explained he believes a software upgrade could be to blame for the stoppage today.
“There’s no official word out yet, the ASX is pretty tight-lipped about what’s going on so I can only guess that this has to do with the ASX trade refresh that’s going on,” Carl told The Market Herald Deal Room.
“It’s a really complex software which effectively runs the entire ASX and they’ve been upgrading that since January… and today was supposed to be their big go-live day and clearly there’s still some bugs in the system,” Carl added.
At this stage, the ASX is expected to be back up and running by tomorrow when trade opens at 10:00 am AEDT.