It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
Trading on the Australian Securities Exchange has been halted because of technical problems.
The ASX sent out an alert shortly after the market opened at 1000 (AEDT), adding that all trades for today are under review.
Sky News is reporting that there will be no trading on the ASX for the rest of the day.
The benchmark S&P/ASX200 was halted after falling 0.3 points to 4,242.2, while the broader All Ords was down 0.1 points at 4300.7.
Originally posted by Evasius
The last time this occurred was on February 28, 2011 - evidently a glitch shut down trading and resulted in 1.5 billion in lost trade.
So it has happened before, but is fairly rare. What's interesting is that when it does occur, it's the result of technology that connects all markets, and as a result these 'glitches' increasingly have the capability to affect global markets via ripple effect.
What's more interesting is that we are fast approaching a time when all systems will become so interconnected through technological means, that small 'run-of-the-mill' mistakes will carry the power to cease economic and political business as usual entirely.
With great technological power also comes great vulnerability, and there will come a time where we will have to change our ways, or circumstances will change it for us.edit on 26/10/11 by Evasius because: (no reason given)
The shutdown comes just days before competitor Chi-X begins operating in Australia
Originally launched by Nomura Holdings subsidiary Instinet, Chi-X Global on October 18, 2011 announced that five major institutions -- Bank of America, GETCO, Goldman Sachs, Morgan Stanley and Quantlab Financial -- had taken a minority stake in the firm.