NZX trading halted over technical issues

All trading on New Zealand's stock market has been halted due to technical issues in the second major outage this year.

A spokeswoman for the NZX confirmed the stock exchange has halted trading, and is investigating the problem. Reuters reported the stock exchange operator said it had connectivity issues and suspended trading on all markets while it looked at the problem.

In April, the Wellington-based company kept trading open when problems with its data feed kept retail investors in the dark over market announcements and live pricing.

The NZX launched the NASDAQ OMX X-stream trading platform last November as it looks to branch out into new securities trading, including derivatives and commodities.

The stock exchange had a major IT glitch in 2010 when failures in multiple hardware services disrupted index feeds until midday, meaning index pricing, such as the benchmark NZX 50 Index, wasn't available in morning trading.

BusinessDesk.co.nz

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