ASX has promised to provide more detailed information during equity market outages including timing for resumption of trading, while maintaining its decision to freeze trading for the whole day when the market was crippled by a software bug in November 2020 was appropriate.
The Australian Securities and Investments Commission, meanwhile, said on Tuesday that during an outage, it expects all market participants to allow new orders to trade on an alternative market by mid-2023, to improve the resilience of the market.
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James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
