Trading Outage Hits ASX24 Futures Market, ASIC Sates

The Australian Securities and Investments Commission (ASIC) today issued a statement on ASX24 futures market outage.

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According to the commission, The ASX24 futures market trading platform entered into a trading halt at around 10:00am Thursday 17 March and reopened around 2:00pm in the afternoon. ASIC remained in regular communication with ASX, market participants, and members of the Australian Council of Financial Regulators.

ASX will be required to provide a full incident report to ASIC.

"ASIC views outages of this nature with significant concern. It has had a significant impact on the market, including market participants and investors. The ASX Group forms a critical part of Australia's national economic infrastructure. Well-functioning financial market infrastructure is critical to the integrity and reputation of the Australian financial markets and the trust and confidence investors have in them,"ASIC said.

Last year, ASIC has imposed additional licence conditions on three licenses held within the ASX Group. Specifically, the additional licence conditions imposed on ASX's Australian market licence require remediation of underlying issues with ASX operations that led to the November 2020 market outage.