ASX opens as corporate regulator ASIC announces it’s investigating embarrassing outage that froze trade

The Australian share market has opened the week slightly higher, with the corporate regulator confirming that it is investigating an outage that brought trade to a halt last week.

Last Monday the ASX was open for just 24 minutes before its systems froze.

That meant people could not buy or sell any shares for the entire day.

The outage came after the nation’s stock exchange operator updated its software, and came as an embarrassing blow to a platform that prides itself on sophisticated technology.

Corporate regulator ASIC has now announced it will investigate the outage.

In a statement, the ASX said it would “cooperate fully”.

“ASX acknowledges that this is appropriate given ASIC’s regulatory oversight,” it said.

The ASX also confirmed that the…