Software upgrades disrupt NZX

Last updated 11:04 17/06/2014

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Software upgrades are being blamed for outages interrupting trading at the stock exchange.

In an email to market participants on Friday, the NZX said the trading system had experienced several outages in the last few weeks and it was working hard on solutions.

''At this stage, we believe the outages were a result of an upgrade to the operating system on the servers that the trading system runs on, which was completed in April 2014,'' said head of operations Mandy Simpson.

The issue was being dealt with by returning some parts of the operating system to the old versions, she said.

In addition, new infrastructure was being installed to provide more backup, but until it was in place there was a small chance of further outages.

Simpson said trading outages were unfortunate but rare, ''demonstrated by the trading uptime of 99.99 per cent in 2013, and 99.7 per cent uptime this year to date.''

One market source said the statement was ''a joke''.

''This is a trading platform that at the end of the day is very unsophisticated. The market's had to be closed three to four times over the last month.''

According to the ASX, its ASX Trade system uptime was 100 per cent in 2013 and 99.75 per cent in 2012. 

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