Australia's ASX says tech problem resolved, markets open

Investors standing in front of a board displaying stock prices at the Australian Securities Exchange in Sydney, Australia, on July 25, 2016.
Investors standing in front of a board displaying stock prices at the Australian Securities Exchange in Sydney, Australia, on July 25, 2016. PHOTO: REUTERS

SYDNEY (REUTERS, BLOOMBERG) - Australian stock exchange ASX Ltd said on Monday (Sept 19) a technical snag that had caused a delay to the opening of the equities market has now been resolved.

The market started with pre-open trades at 11.10 am local time (0110 GMT), almost an hour later than its normal schedule. The ASX's normal operating hours are between 10 am and 4 pm local time.

An ASX spokesman said the exchange was continuing to work with its technology vendor to prevent a recurrence of the problem.

Earlier, the ASX said the opening of the equities market was delayed "due to an issue with a component that allows ASX to manage individual stocks."

The issue relates to a component that allows ASX to manage individual stocks, according to Matthew Gibbs, a spokesman for the stock-exchange operator in Sydney. A separate statement from the company to clients said the issue affected its ASX Trade platform.

Chi-X Australia Pty, which operates a competing stock trading system, had to delay its usual open due to the ASX glitch, said chief executive officer John Fildes.

Traders in Australia were unable to buy and sell shares in what is shaping up as a busy week for global markets. Policy meetings are scheduled at the Bank of Japan and the Federal Reserve, with Australia's central bank set to release minutes from its most recent meeting on Tuesday. Australia's equity market is worth US$1.1 trillion, making it the sixth-largest in the Asia-Pacific region.

At 0137 GMT, the benchmark S&P/ASX 200 index was mostly unchanged at 5,292.3 points.