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ASIC To Investigate ASX Crash

SYDNEY: Last week’s software glitch that brought the ASX tumbling down for most of a day is currently being investigated by the corporate regulator ASIC.

The ASX was open for just 24 minutes before its systems froze on Monday last week, with brokers and investors unable to buy or sell shares for the entire day.

The outage was blamed on the updating of the ASX’s software, an embarrassing blow to a platform that prides itself on its sophistication.

The ASX says it will co-operate fully with the ASIC probe that potentially cost the sharemarket hundreds of thousands of dollars, although the full cost may never be known.

The ASX also confirmed that issues with its CentrePoint trading system have been fixed and that the platform should be fully operational tomorrow.

Centre Point is a system that allows investors to make anonymous transactions.

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