Just one day after the share market was forced to close for most of Monday, ASX Ltd (ASX: ASX)'s fitness to operate has been questioned again.
While the main market successfully reopened at 10am on Tuesday and survived a whole day's trading, troubles arose in other ASX systems.
Late in the afternoon, the Australian Investments and Securities Commission tore into the market operator for data issues with the Centre Point matching system.
That system normally takes in bids and offers from both ASX and alternative market Chi-X to give buyers and sellers the best price possible.
But the data failures meant ASX decided to ignore the Chi-X feed from 11.17am onwards.
ASIC warned that this exclusion could mean a violation of market integrity rules.
As of Wednesday morning, ASX had decided to suspend Centre Point "until further notice".
"ASX believes it is prudent to suspend the Centre Point service for today, following the issues experienced yesterday creating a national best bid and offer," an ASX spokesperson told The Motley Fool.
"This will allow ASX to implement a fix to the service, and ensure a safe and stable market environment."
Image source: Getty Images
Is ASX fit to run the market?
Just like Monday, ASIC expressed its concern about ASX's infrastructure and the company's fitness to operate the market.
"ASIC is actively assessing ASX's compliance with its market licence obligations and is considering further actions to ensure the adequacy of ASX's human, financial and technological resources to operate its markets in an orderly manner," stated ASIC.
ASX's share price fell more than 2% on Tuesday, falling from $82.91 at 10am AEDT to close at $81.19.
ASX's CHESS system also failed Tuesday
The ageing CHESS system, which settles trades, also failed Tuesday afternoon.
The delay in batch processing was not connected to Monday's market outage.
The CHESS system processes trades 3 business days after they took place, meaning the Tuesday problems would have affected Friday's transactions.
As of Tuesday night, ASX's system status page showed the delayed batch run was completed.
