ASX futures market suffers outage on pivotal day

Australia’s futures exchange suffered an outage on Thursday that left investors shut-out from derivatives markets on one of the biggest days for economic news this year, adding fresh pressure on the ASX after a similar failure less than two years ago.

The exchange stopped trading shortly before 10am in Sydney and pointed to unspecified technical factors, leaving traders hamstrung hours after theAn outage for the ASX’s futures market comes within two years of a shutdown for its equities exchange.The outage continued through the release of Australian unemployment data at 11.

All trades executed up until 10.03am AEDT would stand, while the SPI March 2022 futures contract, which tracks the SP/ASX 200 equity index, had expired and would not be available to trade for the remainder of the day.The exchange operator said it was “working to rectify the issue as soon as possible,” in a statement shortly after lunch, and that the stoppage would not inhibit trading on its equity market.

The 2020 outage was caused by a software glitch and led to damning responses by regulators, who have asked brokers to strengthen links to ASX rival Chi-X Australia in the case of similar stoppage in trading.

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