Menu
Hours-long outage over as NZX fixes “glitches”

Hours-long outage over as NZX fixes “glitches”

Outage began just after 11:19am local time

Hours after trading on New Zealand stock exchange NZX was halted because of an outage on Tuesday, the market operator said glitches had been resolved and trading would return to normal on Wednesday.

The outage, which affected trading and stock exchange releases, began just after 11:19am local time, according to an alert on Thomson Reuters, and remained unresolved throughout the afternoon.

Trading systems are functioning with cash markets in enquiry mode, the operator said in a statement.

An "internal operational issue" had initially caused trading to halt, which had been resolved, but a "secondary issue" had arisen and caused further delay, NZX CFO Graham Law said via email.

Law said the issues were not related to a technical problem with the NASDAQ trading system used by NZX, but did not elaborate.

"The exchange has been in regular contact with market participants throughout the period," Law said. "NZX's current focus is on recommencing trading as soon as possible."

“NZX apologises to those impacted parties for the inconvenience caused,” a statement read. “A full investigation will take place in the following days and an incident report released to the market.”

As reported by Reseller News, the NZX delivered four major technology projects in 2017, including a life-cycle upgrade to its core trading and settlement systems.

The exchange company's annual report, released in February, said maintaining a trusted and reliable market infrastructure will continue as a key priority.

Information technology costs increased steadily over the last couple of financial years, the NZX's annual report revealed, rising from $6.2 million in 2015 to $7.8 million last year.

In addition to the clearing and settlement upgrade, NZX moved its New Zealand-based capital market participants to what it described as "a modern and robust" telecommunications infrastructure, implemented changes to the way administrative trading halts are applied, and upgraded its website NZX.com.

Furthermore, NZX said it considered there was a risk that the security of its information technology systems could be compromised.

(Reporting by Charlotte Greenfield in New Zealand and Chandini Monnappa in Bengaluru; editing by Gopakumar Warrier and Sai Sachin Ravikumar)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags NZX

Featured

Slideshows

Tech industry comes out in force as Lancom turns 30

Tech industry comes out in force as Lancom turns 30

A host of leading vendors and customers came together to celebrate the birthday of Lancom Technology in New Zealand, as the technology provider turned 30.

Tech industry comes out in force as Lancom turns 30
The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Show Comments