ASX outage deepens investors' doubts over tech overhaul

Core Viewpoint - The Australian Securities Exchange (ASX) is facing scrutiny from investors and market participants following a recent outage, raising concerns about its technology turnaround plan and operational resilience [1][2][5]. Group 1: Recent Outages and Impact - Approximately 80 companies experienced trading halts due to the ASX's announcement platform failure, preventing the publication of hundreds of price-sensitive disclosures [2]. - The recent outage is part of a series of technology failures that have led to reputational risks for the ASX, highlighting governance and operational resilience issues critical for market integrity [2][5]. - The ASX attributed the outage to a software deployment for a security upgrade, which was gradually restored during the trading session [3][4]. Group 2: Investor Sentiment and Reactions - Investors express disappointment over the continued technology issues, questioning the ASX's ability to deliver on its promises and ease regulatory burdens [6]. - Market participants, including Opal Capital's founder, emphasize the embarrassment of repeated incidents and the significant work needed for a successful turnaround [3][6]. - ASX chair David Clarke previously stated that the technology upgrade plan is crucial and cannot afford to fail, yet investor confidence remains shaky following the latest incident [5].