The exchange said Monday morning that it had suspended trading while it investigated “market data issues.”
The broadcast was first recognized at 10:17 a.m., before the stock market was interrupted at 10:24 a.m. At 11:58 a.m., the ASX said it had identified the issue and would work toward a resolution.
However, at 2:58 p.m., he decided to close the exchange for the rest of the day, promising that a resolution path was in place to allow trading to begin at 10:00 a.m. on Tuesday.
The ASX and technology provider Nasdaq identified the root cause as a software issue, which was limited to trading multiple securities in a single order (combined trading), generating inaccurate market data.
The exchange had attempted to roll out its trading platform for the ASX stock market on Monday, after carrying out tests with Nasdaq, clients and independent third parties for more than a year, including four dress rehearsals.
ASX chief executive officer and chief executive Dominic Stevens said the company was disappointed and “sorry for the disruption caused to investors, customers and other market users”.
“The outage does not meet the high standards we have set for ourselves and the standards others expect of us,” Mr Stevens said.
“Despite extensive testing and rehearsals, as well as the involvement of our technology provider, ASX accepts responsibility. It is our responsibility to get it right and provide a reliable and resilient trading system to the market.
The problem occurred after the ASX’s revamped website crashed when it debuted a month ago.
