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ASIC investigating stockmarket glitch

Treasurer Scott Morrison says the Australian Securities and Investments Commission is investigating the technical glitch that shutdown the stock exchange.

ASX

ASX Source: AAP

The corporate watchdog is investigating the technical glitch that hit the Australian stock exchange and prevented billions of dollars worth of trading.

Treasurer Scott Morrison said the Australian Securities and Investments Commission will report back after it looks into how the ASX was forced into a shortened trading session on Monday.

"This was a very unfortunate incident yesterday but it's been five years since something like that has happened with the ASX ... Regardless of that, these things need to be avoided and we need to determine what caused it," Mr Morrison told Sydney radio 2GB on Tuesday.

The ASX says a hardware failure in its main database, which caused large interruptions for share trading on Monday, has now been fixed.

The ASX says a hardware failure in its main database, which caused all shares on the exchange to be fully tradable for just over an hour on Monday, has now been fully resolved.

Up to $3.5 billion in turnover may have been lost because of Monday's glitches.


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Source: AAP




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