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Corporate watchdog continues ASX review

AAP logoAAP 13/10/2016 Tom Rabe

The corporate watchdog is looking at how the ASX, brokers and investors operate on it following the exchange's September crash.

The ASX opened late and closed early on September 19, with the technical problem also causing a series of trade cancellations, the Australian Securities and Investments Commission says.

An initial report prepared by the ASX identified hardware failure as the cause of the malfunction.

ASIC says it has reviewed the initial report from ASX and will review the exchange operator's report on secondary issues arising from the glitch.

It also will look at whether any such incident could be better dealt with in the future.

"As part of its role, ASIC is continuing to also review a number of associated considerations which arose on and from the incident which relate to the way in which ASX, brokers, investors and other stakeholders reacted and responded to the issue," it said in a statement on Friday.

"The purpose of ASIC's ongoing review is to determine whether there are any changes which could assist the market and market users to function more effectively, should such circumstances recur in the future.

"We will issue a report that develops these themes. This work will draw on our own observations, as well as industry feedback and perspectives on international approaches to incident management."

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