The Australian Securities Exchange (ASX) has pinned down the cause of its outage last week, rectifying the issue and confirming that it was not a security matter.
The outage, which occurred last Thursday, resulted in the halt of all trading after 10am, with the exchange only reopening later that afternoon. The ASX has narrowed down the cause of the outage to an upgrade that was implemented on the previous weekend to improve ASX Trade's latency.
The responsible components that caused the outage have now been identified by ASX, and ASX Trade's configuration has been reverted. ASX stated that since coming back online, it has been operating normally. It processed more than 850,000 trades last Friday, 20 per cent higher than the daily average for the year; but 620,000 trades on Monday, a little below the daily average.
For the last financial year, ASX Trade averaged 99.92 per cent uptime. There was a similar glitch in February that would have also contributed to this value. For each of the previous five years, the ASX has achieved 100 per cent uptime.
ASX previously stated in a press release that a network connectivity issue had been preventing participants from interacting with the trading platform, and that it was working with NASDAQ OMX to analyse the issue. The ASX uses NASDAQ OMX for its trading, clearing, settlement and surveillance activities.
NASDAQ OMX was the victim of a cyber attack last year in October. Reuters reported that the attack may be more serious than initially thought, and that the US Nation Security Agency has been called in to assist the company. Despite these events in the US, the ASX has confirmed that its outage last Thursday was not caused by an attack. It also said that there is no connection to events that occurred on the US market, or any other market.