daytrading oct 27 morning, page-152

Technical glitch halts ASX trading Chris Zappone
October 27, 2011 - 10:53AM
.A mystery glitch has led to the suspension of trading on the Australian Securities Exchange.

The ASX says it is experiencing technical difficulties and all markets are suspended until further notice.

It also said in an alert this morning that it was reviewing all trades for today. Feeds are failing to show updates of share trades on Bloomberg and on the ASX site.

"While we investigate the market has been put into 'enquire' mode which effectively halts the market," a spokeswoman for the exchange said.

"We will seek to resolve this problem as soon as we can and we will keep the market updated."

"Technicians are currently examining the high-speed rooftop satellite relay systems after an unconfirmed birdstrike was reported"

Enquire mode means that there is no trading at all. Once the tech problems have been resolved the market will go into a ''pre noticed received'' phase, or what brokers call a ''pre auction'' phase for about 10 minutes.

That gives traders and others the chance to sort out orders, after which trading will begin.

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 (AEDT) on the ASX 24, the December share price index futures contract was down five points at 4217, with 9369 contracts traded.

BusinessDay believes the outage has the potential to last for a few hours.

More to come


Read more: http://www.smh.com.au/business/technical-glitch-halts-asx-trading-20111027-1mkwt.html#ixzz1bw3DGA7I