{"id":136455,"date":"2021-08-23T09:06:44","date_gmt":"2021-08-23T09:06:44","guid":{"rendered":"https:\/\/precoinnews.com\/?p=136455"},"modified":"2021-08-23T09:06:44","modified_gmt":"2021-08-23T09:06:44","slug":"asx-november-outage-happened-as-an-update-was-not-ready-to-go-live","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/asx-november-outage-happened-as-an-update-was-not-ready-to-go-live\/","title":{"rendered":"ASX November Outage Happened as an Update Was \u2018Not Ready to Go-Live\u2019"},"content":{"rendered":"

The Australian Securities Exchange (ASX) has published the findings of IBM Australia, which was commissioned to review the shortcomings that led to the outage of the Aussie equity trading platform last November after a major upgrade.<\/span><\/p>\n

The independent review was conducted as the two key regulators, ASIC and the Reserve Bank of Australia (RBA), raised significant concerns over the outage of the trading platform that impacted the markets.<\/span><\/p>\n

According to IBM, the ASX Trade system was \u2018not ready to go-live\u2019 as service disruption creates havoc in the market. \u201cThis was the case even though the formal implementation readiness processes were completed and verified by multiple parties without objection to go-live,\u201d the announcement stated.<\/span><\/p>\n

Additionally, there were gaps in the delivery risk and issue management process of the project, while it failed to meet industry standards in the areas of risk and issue management, project compliance, and strategy tests.<\/span><\/p>\n

IBM\u2019s recommendations of shortcomings and improvements were largely in seven areas: risk, governance, delivery, requirements, vendor management, testing and incident management.<\/span><\/p>\n

Improvement Needed<\/span><\/h2>\n

\u201cThe independent expert found that ASX met or exceeded leading industry practices in most areas, but the conclusion that the project was not ready for go-live is very disappointing,\u201d said ASIC Chair, Joe Longo.<\/span><\/p>\n

\u201cASX has acknowledged and accepted the need for improvement. We do, however, require assurance that these improvements are implemented effectively and result in an overall improvement to ASX\u2019s enterprise wide project management practices.\u201d<\/span><\/p>\n

Meanwhile, ASX is facing a separate investigation on the outage by the ASIC, which is looking if the exchange operator violated any obligatory requirements under its Australian Market Licence.<\/span><\/p>\n

Trading outage remains a major issue of concern as it heavily impacts the market activities. Other than the ASX, many other exchanges also went blackout in recent years. Most notably, external attacks disrupted the operations of the New Zealand Stock Exchange (NZX) for days last August.<\/span><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Australian Securities Exchange (ASX) has published<\/p>\n","protected":false},"author":3,"featured_media":136454,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nASX November Outage Happened as an Update Was \u2018Not Ready to Go-Live\u2019 - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/asx-november-outage-happened-as-an-update-was-not-ready-to-go-live\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX November Outage Happened as an Update Was \u2018Not Ready to Go-Live\u2019 - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The Australian Securities Exchange (ASX) has published\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/asx-november-outage-happened-as-an-update-was-not-ready-to-go-live\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-23T09:06:44+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/ASX-November-Outage-Happened-as-an-Update-Was-\u2018Not-Ready-to-Go-Live.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/asx-november-outage-happened-as-an-update-was-not-ready-to-go-live\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/asx-november-outage-happened-as-an-update-was-not-ready-to-go-live\/\",\"name\":\"ASX November Outage Happened as an Update Was \u2018Not Ready to Go-Live\u2019 - 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