ASX Trading Halted Due to Glitch

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By Esther Thomas | October 27, 2011 12:12 PM EST

Thursday's trading session at the Australian Securities Exchange floor has been closed indefinitely because of a technical glitch.

As of 11:33am, thousands of trades were placed under review due to technical problems. Australian Securities Exchange Ltd. general manager for media and communications Matthew Gibbs said in the Herald Sun the market was halted at 10:05am after the technical issue was detected.

The market has been placed in "enquire mode," which means that participants can't enter trades into the Australian Securities Exchange platform, according to Sky News Business.

Some 6,700 trades have already been through at today's opening session before the glitch attacked the platform that eventually suspended all trading activities.

The Australian Securities Exchange is currently investigating the cause of the technical malfunction. Gibbs said the exchange will resolve the problem as soon as possible but there would be no more trading until everything has been fixed.

The benchmark S&P/ASX200 index was halted after falling 0.3 points to 4242.2, while the broader All Ordinaries index was down 0.1 points at 4300.7.

By 10:35am on the ASX 24, the December share price index futures contract was down five points at 4217, with 9369 contracts traded.

The last time the Australian Securities Exchange encountered a similar technical problem was back in February.

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