https://www.itnews.com.au/news/asx-outage-caused-by-security-software-upgrade-622331
The Australian Securities Exchange (ASX) has faced yet another setback in its ongoing technology overhaul, as a recent outage on its announcement platform was caused by a security software upgrade. This incident has deepened investors’ doubts about the exchange’s ability to deliver on its promised technology improvements and maintain market integrity.
The outage, which left around 80 companies with price-sensitive disclosures unable to publish their announcements, highlights the reputational risks the ASX is facing as it struggles to modernise its aging systems. Investors and market participants have expressed concerns over the exchange’s governance, operational resilience, and its capacity to deliver on the critical technology transformation that is underway.
The ASX has acknowledged the disruption and stated that it will provide an incident report to the Australian Securities and Investments Commission (ASIC). However, this latest failure, coming on the heels of a series of previous incidents, has raised questions about the ASX’s ability to effectively manage its technology overhaul and ensure the smooth operation of the market. Experts suggest that the exchange has a significant amount of work ahead to regain the trust of investors and regulators, who are closely scrutinizing its progress and ability to provide secure and resilient critical market infrastructure.