Glitch brings down NZX

TOM PULLAR-STRECKER
Last updated 17:25 01/07/2013

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Trading on the NZX suffered an outage of nearly three hours after a computer glitch.

All trading on the NZX was halted shortly after noon following "connectivity issues" with a number of its computer systems, and resumed at 3pm.

Spokeswoman Kate McLaughlin said the NZX had decided to suspend trading on all of its markets in the interests of fairness and transparency.

A report would also be provided to the Financial Markets Authority, it said.

The NZX50 was down 10 points at 4430 at the time of the trading halt and fell 22.12 points or 0.49 per cent to close at 4,418.05.

The NZ dollar was trading at US 77.77c at 5.09pm and 84.62 Australian cents.

The 90-day bank bill rate was 2.68 per cent.

Grant Williamson, director of Christchurch broker Hamilton Hindin Greene said its stockbrokers did not get the afternoon off.

"The Australian market was still open and there were still clients to speak to," he said.

There would now be a little bit of a backlog of orders to clear. 

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- © Fairfax NZ News

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