Today, 16 November 2020, the ASX equity market was closed at 10:24 as a result of a software issue limited to the trading of multiple securities in a single order (combination trading) that created some inaccuracies in market data, which impacted securities in Partition 3.

ASX and its technology provider Nasdaq have identified the root cause and a resolution path to fix it.

The issue will be resolved overnight and the market will reopen at the normal time (10am) tomorrow, Tuesday 17 November.

ASX sincerely apologises and deeply regrets the disruption to the market caused by the outage.

Trading activity

All trades executed and reported today are valid.

Sequence and timing of session states for the remainder of today

ASX Trade will remain in ENQUIRE session state until 18:50 and normal session state schedules will resume at that point, beginning with PURGE_ORDERS transitioning through to CLOSE at 19:00.

Status of outstanding orders, including orders that would be purged and long orders

Participants are advised to perform a normal start of day procedure, including a full order book query, on Tuesday 17 November. This will provide the correct order book state prior to market open.

Order purge and the retention of long orders will occur as usual.

Participants will not receive OMNet broadcasts in relation to the order purge at 18:50 for instruments in Partition 3.  

The order book position will be correct in the order book download tomorrow morning. However, Participants may experience reconciliation differences for Partition 3 prior to the order book download.

Customers requiring trade confirmations should contact Trading Operations.

Settlement prices, last trading prices and closing prices

Settlement prices, last trading prices and closing prices will be issued in accordance with existing procedures

• Settlement prices will be published as normal.
• Today’s last trading price will be the price of the last trade executed in the OPEN state. 
• Closing prices will be available as usual tomorrow morning and will be derived in the normal way from the last traded price.

ASX Closing and Settlement Price Determination in determining the settlement prices for cash market margin can be found here. In this case, ASX Clear’s approach will be based on a “Partial Closure” scenario and no adjustments are expected to be made to the settlement prices for cash equities.

Tailor Made Combinations (TMCs)

From tomorrow and until further notice, ASX Participants will be unable to create Tailor-Made Combinations (TMCs).

Communication

Participants and the market will continue to be updated with any changes via the ASX Systems Status page.

What do I need to do by when?

Participants are advised to perform a full order book query on Tuesday 17 November to confirm their current order book state prior to market open.

Need more information?

Issued by

Val Mathews - Executive General Manager, Operations

Contact information

For general enquiries, please contact:

Ben Jackson - General Manager, Market Operations
T 02 9227 0897
E Ben.Jackson@asx.com.au

Trading Operations

T 1300 655 560 | (+61) 2 9256 0677
E tradingoperations@asx.com.au

Customer Technical Operations

T 1800 666 053 | (+61) 2 9227 0372
E cts@asx.com.au

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