Traders were left fuming on Friday afternoon after the ASX’s ageing equities market settlement systems failed for hours in the lead up to the summer holiday break.
Officials at the market operator were expected to work late into the evening to investigate why the CHESS T+2 system, which settles trades two days after stocks are bought and sold, was not working.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
