Australia’s exchange tech overhaul reveals a huge governance gap

In September 2016, ASX (Australian Securities Exchange) Group experienced a major trading system outage that impacted the country’s entire equities market due to a hardware failure.

The incident drew the ire of the markets regulator, ASIC (Australian Securities and Investments Commission) and central bank (Reserve Bank of Australia, RBA), and ultimately ASX was found to have technological and operational failures that were made worse by human error.

There was also specific mention of “concern” over the way in which ASX Group reported on this and other incidents, albeit not such “structurally severe” ones.

In the aftermath, an independent review by KPMG dug into ASX’s operational risk management, technology governance, enterprise architecture, and incident management.

This content requires a Finadium subscription. Articles with an unlocked symbol can be accessed with free registration. Log in or create a free account by signing up here..

Related Posts

Previous Post
Cyber threat watchdog raises alarm on illicit cryptocurrency mining
Next Post
DataLend says H1 2018 revenue in securities finance was $5.47 billion (lender to broker activity)

Fill out this field
Fill out this field
Please enter a valid email address.

X

Reset password

Create an account