Chris Nicolay, head of institutional equities at Wilsons Advisory and Stockbroking, said it was a "catastrophic failure".
As well as being unable to execute orders on behalf of clients, his firm also received an income hit, unable to charge brokerage on trades.
"Basically buy-side and sell-side effectively shut for the day," Mr Nicolay said. "It is a day’s worth of revenue loss, which is not good. It's very frustrating."
John Winters, chief executive of trading platform Superhero, said the incident put the ASX's competence as the market operator under a cloud. AFR 16-11-20
E.
NSX Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
