Scoop has an Ethical Paywall
NZX crashes for fourth day in a row
The NZX website appears to be down for a fourth day just as the market is due to open.
The stock exchange is investigating if it is another cyber attack.
Earlier, it said it would open as normal today after beefing up its IT systems to counter cyber attacks.
The NZX has had to cut trading short over the past three days because its systems have been by an offshore cyber attack.
It managed only one hour's trading yesterday after it could not publish company announcements.
The NZX says it has been working with its network service provider, Spark, and cyber security experts, including the Government Communications Security Bureau to counter the attacks.
Financial adviser at Hobson Wealth Partners Brad Gordon told Morning Report that the crashes have caused significant inconvenience and have come in the middle of a significant reporting period.
He said having the exchange close abruptly puts New Zealand traders at the whim of the overseas market when the market next opens.
Gordon said market participants expect to be able to trade throughout the day.
"There's a lot of algorithmic trading that happens, say volume weight prices that happens throughout the day, which means those orders will be hanging over a night."
He said clients are frustrated.
"There were a number of orders weren't able to be done yesterday, and obviously it just leaves them just a little bit uncomfortable, particularly having to sit on positions overnight that they were expecting to be able to trade."
Gordon said there is a question about why it has been happening to NZX technology infrastructure when it is not happening to other stock exchanges.
RNZ
New Zealand's public broadcaster, providing comprehensive NZ news and current affairs, specialist audio features and documentaries.
Radio New Zealand is a Crown entity established under the Radio New Zealand Act 1995. Radio New Zealand News are vital elements in our programming, providing impartial news and information to New Zealanders every day. Radio New Zealand (RNZ) provides listeners with exciting and independent radio programmes in accordance with the Radio New Zealand Charter.
Ian Powell: New Hospital Building Trumps ‘Yes Minister’ Hospital Without Patients
Mike Treen: Prices Are Still Rising - It's A Cost Of Living Crisis
Gordon Campbell: On When Racism Comes Disguised As Anti-racism
Peter Dunne: Newshub And TVNZ Tip Of Media Iceberg
Harry Finch: Austerity – For And Against
Gordon Campbell: On Winston Peters’ Pathetic Speech At The UN