- Trade has resumed on the Australian Securities Exchange this morning after the technical issue that kept the platform offline for most of yesterday was resolved
- The market issue came to light and caused trade to be halted just 24 minutes into a roaring session
- Shortly after 3:00 pm AEDT, the ASX confirmed the session had been abandoned
- Within the brief window that shares could change hands, the ASX 200 index jumped 1.2 per cent to its highest close in over eight months
- In a statement, the ASX said the glitch was related to the upgrade of its trading system and apologised for the outage
- Overnight, news that Moderna’s vaccine is 94.5 per cent effective sent U.S. stocks higher
- Back home futures traders were more hesitant: the ASX SPI200 only gained four points, less than 0.1 per cent, to 6490 points
Trade has resumed on the Australian Securities Exchange this morning after the technical issue that kept the platform offline for most of yesterday was resolved.
Just 24 minutes into a roaring session, the issue prompted a pause in trade. It wasn’t until after 3:00 pm AEDT, the ASX confirmed officially abandoned the session.
Within the brief window that shares could change hands yesterday, the ASX 200 index jumped 79 points, or 1.2 per cent, to 6484.3 points, its highest point since the beginning of March.
Botched go-live
The issue was related to the go-live of the upgraded ASX Trading system, the latest generation developed by technology provider Nasdaq.
ASX Managing Director and CEO Dominic Stevens said the outage occurred despite rigorous testing and apologised for the disruption.
“ASX is very disappointed with today’s outage and sorry for the disruption caused to investors, customers and other market users. The outage falls short of the high standards we set ourselves and the standards others expect of us,” he stated.
“Notwithstanding the extensive testing and rehearsals, and the involvement of our technology provider, ASX accepts responsibility. The obligation to get this right and provide a reliable and resilient trading system for the market rests with us,” the CEO continued.
Overnight movement
Overnight, news that Moderna’s vaccine is 94.5 per cent effective sent U.S. stocks higher.
Back home, futures traders were more hesitant: the ASX SPI200 only gained four points, less than 0.1 per cent, to 6490 points.