NZX delays reopening after DDoS attacks

NZX delays reopening after DDoS attacks

Hopes to resume trade on Friday

Credit: NZX

New Zealand's stock exchange (NZX) chose not to reopen on Thursday for trading following offshore cyber attacks over the past two days.

The exchange pointed to network connectivity issues from the cyber attacks and said it is hoping to resume on Friday.

"This decision not to reopen has been made while we focus on addressing the situation," the bourse operator said in a statement.

The cyber attacks on Tuesday and Wednesday targeted the exchange's network provider through a distributed denial of service (DDoS) attack, which is a common way to disrupt a server by overwhelming it with a flood of internet traffic.

The bourse took the call to not reopen the main board, NZX debt market and Fonterra Shareholders Market after trading was halted at 11:10 AM local time (2310 GMT). NZX also closed the derivatives market on Thursday.

"We continue to address the threat and work with cybersecurity experts and we are doing everything we can to resume normal trading tomorrow," NZX said.

Trading on Tuesday and Wednesday were impacted for different periods of time.

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Shailesh Kuber)

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