RealNews

Computer Glitch Halts New Zealand Trading

A computer software glitch wiped out trading at the New Zealand stock exchange late Wednesday morning. In an urgent advisory, the exchange said that “due to an issue with the (computer) system which has compromised market integrity,” all trading on capital markets had been suspended. It did not elaborate on the problem, but a spokeswoman said it had been caused by a computer software upgrade at an associated share registry facility and was not related to the “Blaster” worm virus. It was not known how long the problem would take to rectify. Officials said they hoped to resume trading some time in the afternoon. “The market will reopen when NZX (exchange) is satisfied that integrity has been restored,” the statement said. The country’s central bank “and other market participants” had been informed shortly after trading was suspended at 11:30 a.m. (2230 GMT). Full Story

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