NZX to be back in action

The NZX said the fault that disrupted trading on the exchange yesterday had been resolved, and normal business would resume today.

“The NZX apologises to those impacted parties for the inconvenience caused,” it said. “A full investigation will take place in the following days and an incident report released to the market,” it said.

Trading on the share market stopped at 11.15am.

Earlier, the exchange confirmed the fault was not due to a technical issue in the NASDAQ trading system.

The stock market operator introduced the Nasdaq platform in 2014.

The platform has faced intermittent issues, most recently with an outage last year.

NZX is spending more time on its core market function, putting it at the heart of a strategic overhaul last year. That includes a new pricing structure set to start in October.

The benchmark S&P/NZX 50 index edged up 0.1 per cent to 9214.02 before the glitch stopped trading on turnover of $16.5 million.

The outage comes at a busy time for the market as the end of the reporting season draws near.

“You do need these things to work efficiently,” Harbour Asset Management portfolio manager Shane Solly said. “It’s a tough time to be down,” he told the Herald.