The ASX cash equity market trading platform did not reopen for trading today Monday, November 16, 2020, after an outage occurred during the opening auction.
November 16, 2020 | AtoZ Markets – The Australian Securities Exchange (ASX) first paused and suspended trade on Monday at 10:24 am after suffering an outage. In a statement apologizing for the market disruption, ASX chief executive Dominic Stevens blamed the outage, on a software bug on its equity trading platform.
“The ASX and its technology provider Nasdaq have identified the root cause and a resolution path to fix it,” Stevens said.
The Australian share market operator says it expects to resolve that software issues overnight in time and reopen tomorrow morning at the normal time of 10:00 am AEDT.
ASIC weighs in on ASX outage
Meanwhile, the Australian Securities and Investments Commission (ASIC) has issued a statement on the ASX equity market outage. ASIC said the outage was of “significant concern” and “had a significant impact on the market, including market participants and investors”.
The regulator remains in regular communication with ASX, market participants, and members of the Australian Council of Financial Regulators.
“We are focused on ensuring that ASX reopens in an orderly manner on Tuesday 17 November, and that market integrity is not compromised,” ASIC said.
In addition to ASIC’s expectations that this outage will be resolved as soon as is possible in a safe manner, ASX will be required to provide a full incident report to ASIC.
The corporate regulator will also monitor for any impacts resulting from the failure of ASX Trade to open for most of the day.
Following the reopening of the market, ASIC will determine whether ASX followed the relevant regulatory requirements under the Corporations Act and met its obligations under its Australian Market Licence.
At the moment, Chi-X market is open for participants to trade ASX listed equities, as well as Chi-X quoted ETFs and TraCRs.
Think we missed something? Let us know in the comment section below.