ASX Australian Securities Exchange operator of the Australian stock exchange

History

2020: Failure in work because of problems in the updated software

On November 16, 2020 the Australian stock exchange (ASX) worked only 30 minutes, the stop of biddings happened because of problems in the software. ASX noted that the reason of failure is detected, promised to resume functioning of a system next day.

It is the longest suspension of biddings for ASX for more than decade. Technical issues arose in day of start at the exchange of the updated system of a trading in shares which testing was held within a year before. The managing director of ASX Dominic Stephens apologized for failure, having said that a system "did not conform to high standards which were initially set".

The Securities Commission and to investments of Australia stated that it has serious concerns and she intends to find out whether ASX fulfilled the license obligations.

30-minute idle time at the Australian exchange because of problems in the updated software

The Australian exchange already endured failures in the past. Machine failure in the ASX trading systems led to the postponed opening of the market and early closing in September, 2016. In October, 2011 trade was stopped almost for four hours because of technical failure just before opening.

We aim to become the international financial center, and it harms our global reputation, - John Atanasiu, the CEO of Red Leaf Securities company which is based in Sydney told. - In independence of that, we are witnesses of bull or bear market, for stock exchange idle times are inadmissible.

In 2020 other exchanges also faced malfunctions in work of trade platforms. On October 1 biddings were suspended on Tokyo Stock Exchange, it needed the whole day for work recovery. The problem was caused by unsuccessful switching to the reserve module after failure of memory in the trading system. In August within four days because of the hacker attack trade at the exchange of New Zealand stopped. On October 19 an hour later after start biddings on the European stock exchange Euronext stopped.^[1]

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