The Australian share market was down for 90 minutes because of technical problems

Photo: Daniel Munoz /Getty Images.

The Australian share market failed to open on Monday morning because of a technical error.

The market, the eighth largest in the world based on market capitalisation, had all stocks in “enquire” mode at the usual start of trading.

At 11.30am, 90 minutes after the scheduled opening, stocks started coming back online.

However, at 1240pm the ASX still had problems. Companies with names beginning with letters between N and R on the alphabet were not trading.

Just before 1.30pm, all securities were open for trading.

“The issue has been rectified,” a spokesman said earlier. “ASX is continuing to work with its technology vendor to prevent a recurrence.”

The ASX later identified its vendor as Nasdaq OMX. “There was no update to the platform on the weekend,” the ASX told Business Insider.

An ASX spokesman said this morning: “The opening of the equities market has been delayed due to an issue with a component that allows ASX to manage individual stocks.

“ASX is working to rectify the issue and open the market in an orderly manner as soon as possible.”

Here’s a screengrab from part of the ASX homepage at 10.25am, almost half an hour after trade was scheduled to start. This would ordinarily show the movement in the benchmark ASX200. Today there was nothing except Friday’s closing price at the top.

Screengrab / ASX

During the outage, share orders couldn’t be entered, amended or cancelled for both the ASX and Chi-X.

Alternative exchange Chi-X said the ASX technical difficulties impacted its market.

The ASX had an outage in August last year, in the middle of the annual results reporting season, due to technical issues. And in 2011 another technical problem sent the exchange down for four hours.

Today’s outage prompted a flood of comment on social media.

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