NZX details 'multiple' hardware failures

Thursday 16th September 2010 3 Comments

NZX says its clearing-house system wasn't affected by a "failure in multiple hardware services" failure that disrupted index feeds until lunchtime today.

NZX said it experienced "failure in multiple hardware services," which make-up the physical backbone of its trading platform. Index pricing, such as the benchmark NZX 50 index, wasn't available for the morning trade.

The NZX ended up bundling its twice-a-day net batch settlement into one batch at the end of the day.

"The failure in the servers is unrelated to the implementation of the clearing house," NZX said in a statement.

"The clearing house system continued to function, and business continuity processes also ensured that there was no market interruption or change to trading conditions."

The shares rose 1.9% to $1.65 in trading today.

Businesswire.co.nz

Comments from our readers

On 16 September 2010 at 5:36 pm Trevor said:

The market is now closed and I am still awaiting my contract note for shares sold at opening this morning. The money has not been credited to my account and Direct Broking stated when I contacted them that the problem was with NZX. So much for the quote:"The clearing house system continued to function, and business continuity processes also ensured that there was no market interruption or change to trading conditions."

On 16 September 2010 at 6:57 pm Matt said:

It was a nightmare... I couldn't see what was sold/brought or not (SKC was sold twice for instance!). Nightmare.

On 16 September 2010 at 7:26 pm Trevor said:

It is 1925 Hrs and my contract note has just come through. Cheers