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NZ exchange ceases trading following 2 cyber attacks

  • August 26 2020
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Invest

NZ exchange ceases trading following 2 cyber attacks

By Cameron Micallef
August 26 2020

The New Zealand stock exchange halted trading after experiencing two offshore attacks in the past two days.

NZ exchange ceases trading following two cyber attacks

NZ exchange ceases trading following 2 cyber attacks

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  • August 26 2020
  • Share

The New Zealand stock exchange halted trading after experiencing two offshore attacks in the past two days.

NZ exchange ceases trading following two cyber attacks

In a statement with NZ telecommunications company Spark, the NZX said it has confirmed the network went offline for approximately one hour today following a second attack on the exchange.

“NZX confirms that it is working with its network service provider to address a further issue today, impacting NZX system connectivity,” it said.

The first attack halted trading on the NZX at around 3.57pm as the index closed in on a new record. 

The S&P NZX50 market closed to its all-time high of 11,993.18 points, up by 72.10 points or 0.6 of a percentage point.

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“It appears that this is similar to yesterday’s issue. NZX halted trading in its cash markets at approximately 11.24am,” it said.

“NZX’s network provider continues to investigate the source of the issue.”

The stock exchange experienced a “volumetric DDOS (distributed denial of service)”, which aims to disrupt service by saturating a network with significant volumes of internet traffic.

Today, the NZX opened this morning and traded for about an hour before coming to another halt at 11.24am local time.

More to come.

NZ exchange ceases trading following 2 cyber attacks
NZ exchange ceases trading following two cyber attacks
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About the author

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Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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