The Australian Securities Exchange (ASX) suffered an “unprecedented” hardware failure in September 2016, resulting in the outage of its equity market.
Shortly after, the Australian Securities and Investments Commission (ASIC) identified a number of failings on the part of ASX, and made recommendations followings its initial review.
ASIC this week published an update [PDF] on ASX Group’s technology governance and operational risk management standards, reporting that while the securities exchange has placed additional focus on risk over the last year, it is expected it will take up to three years to fully implement and embed all the recommendations from the initial review.
According to ASIC, ASX’s practices were more…
