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Current as of 26/05/17 07:40PM NZST

NZX system problems delays stock market open

By Paul McBeth

Photo / File
Photo / File

Problems with the NZX's trading system has delayed the stock market from opening today.

The Wellington-based stock market operator said it experienced problems in "its trading system and FIX gateway connections" which have since been restarted, and is getting in touch with its independent software vendors to make sure they've got a connection. Once that's done, it will announce staggered pre-market trading sessions, it said.

Reuters terminals reported all NZX markets entered a pre-open at 11am, which showed the benchmark S&P/NZX 50 index edged up 0.04 per cent, or 3.15 points, to 7170.78, although there were no prices for individual stocks available as at 11.15am.

The stock market operator said all market participants had been notified.

NZX spent $7.3 million on information technology costs in 2016, which includes software licence fees, software and hardware support and maintenance fees, telecommunications and data network costs and the cost of IT services provided by third parties.

That was up from $6.2m a year earlier due to more expensive data feeds for securities and agri data businesses, a weaker exchange rate pushing up the cost of software maintenance fees in US dollars, extra software licence costs in the energy business, and other price hikes and new services from third parties.

- BusinessDesk

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