August 28, 2018 / 7:28 AM / 3 months ago

UPDATE 1-New Zealand stock exchange outage resolved after hours-long trading halt

(Adds NZX official statement)

WELLINGTON, Aug 28 (Reuters) - Hours after trading on New Zealand stock exchange NZX was halted because of an outage on Tuesday, the market operator said glitches had been resolved and trading would return to normal on Wednesday.

The outage, which affected trading and stock exchange releases, began just after 1119 local time (2319 GMT Monday), according to an alert on Thomson Reuters Eikon, and remained unresolved throughout the afternoon.

Trading systems are functioning with cash markets in enquiry mode, while derivative markets which resumed normal trading at 0610 GMT Tuesday will close by 1000 GMT, the operator said in a statement.

An “internal operational issue” had initially caused trading to halt, which had been resolved, but a “secondary issue” had arisen and caused further delay, NZX Chief Financial Officer Graham Law said via email.

He said the issues were not related to a technical problem with the NASDAQ trading system used by NZX, but did not elaborate.

“The exchange has been in regular contact with market participants throughout the period,” Law said. “NZX’s current focus is on recommencing trading as soon as possible.”

A full investigation will be carried out and an incident report will be released to the market, NZX said. (Reporting by Charlotte Greenfield in New Zealand and Chandini Monnappa in Bengaluru; Editing by Gopakumar Warrier and Sai Sachin Ravikumar)

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