New Zealand Stock Exchange halts trading for 3rd day due to online attack

2020-08-27 Xinhua Editor:Gu Liping

New Zealand Stock Exchange (NZX) halted major trading on Thursday after its website collapsed for a third day in a row.

The NZX website said it was currently experiencing network connectivity issues as the NZX Main Board, NZX Debt Market and Fonterra Shareholders Market were currently halted.

It is understood that the NZX website was under online attack. The type of attack was known as a distributed denial of service attack (DDoS), which overwhelms the online service rendering it inoperable.

On Tuesday, the NZX website was hit by a cyber-attack which forced it to halt trading. The site went down again on Wednesday for the same reason.

At 11:10 a.m. local time on Thursday, the NZX put a halt trade on its cash markets, a NZX spokesperson told local media Newshub.

The spokesperson said the NZX is continuing to work with its network provider to investigate the source of the issue, following volumetric DDoS attacks from offshore on Tuesday and Wednesday.

If the website went down, they would cease trading because retail punters cannot see the market announcements being made, it is said. 

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