(Bloomberg) — Australia’s stock exchange said it identified the issue that spurred a market outage on Monday.
The ASX Ltd. continues to work on a resolution and will provide further updates, the bourse operator said on its website without detailing what the issue was. Trading on the exchange was paused shortly after the market open as the ASX investigated market data issues. The S&P/ASX 200 Index was up 1.2% as of 10:24 a.m. local time.
The outage came as other global exchanges have faced disruptions this year. Trading on the Tokyo Stock Exchange’s cash equity market was halted for an entire day on Oct. 1, an unprecedented shutdown. The failure that was caused by a botched switchover to a backup unit following a memory failure in its trading system.
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New Zealand’s stock market was forced to halt trading over four days in August after distributed-denial-of-service attacks overwhelmed its website. Trading in all stocks and derivatives on Euronext NV markets was shut down for three hours in late October, affecting activity in countries including France and Belgium. The problem was traced to due to a software issue.
Australia’s exchange has also experienced glitches in the past. A hardware failure in the ASX’s trading systems triggered a delayed market open and an early closure in September 2016. In October 2011, trading was halted for almost four hours by a technical disruption just before the open.
The nation’s benchmark stock index is down about 3% this year and is a few hundred points shy of its all-time record.
(Updates with additional detail throughout)
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