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NZX prices, data back in public view after 2-hour break; cause still unclear

Tuesday 23rd April 2013

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Publication of prices and announcements resumed on the NZX after a two-hour spell where only market participants could see what was going on and the benchmark stock index climbed to a new record.

Retail investors wouldn't have known the NZX system had failed when the market was due to open at 10am. The first statement came 56 minutes later, saying that as market participants had access to live prices, the market "was able to trade as usual."

A spokeswoman for New Zealand's markets operator said "issues with the market depth feed" have been resolved. Stock prices began appearing just before noon and the NZX 50 Index was quoted at 4504.126, up 0.5 percent from yesterday's record close of 4483.65.

"The underlying cause of this incident is still under investigation," the spokeswoman said in a statement. "A full investigation will be undertaken and an update provided to the market once completed."

The NZX had offered to put trading halt on any stock that released price-sensitive announcements.

Trading on the NZX is drawing more interest from the public as the selldown of MightyRiverPower looms.

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