ASIC to investigate if ASX is fit to hold market licence // Motley Fool Australia

ASX Ltd (ASX: ASX)’s nightmare Monday could spill over into Tuesday as the corporate watchdog announced it would examine whether the company met its licence obligations.

The trading day was cancelled on Monday after the ASX could not recover from technology issues understood to have arisen from a systems upgrade.

Late in the afternoon, the Australian Investments and Securities Commission announced that such outages are of “significant concern”.

“The ASX is one of the world’s most active and visible public markets and forms a critical part of Australia’s national economic infrastructure,” stated ASIC.

“Well-functioning financial market infrastructure is critical to the integrity and reputation of the Australian…