The Australian Securities Exchange’s technology turnaround plan faces scrutiny after a fresh outage, leaving 80 companies in a trading halt due to a collapsed announcement platform. Investors question ASX’s ability to maintain market integrity and deliver on promised upgrades. The outage was related to a security upgrade software deployment. ASX apologizes and promises to provide an incident report to ASIC.

ASX’s repeated technology failures raise concerns about its ability to provide secure market infrastructure. ASX chair Clarke emphasized the importance of a successful technology upgrade plan, but investors remain skeptical. The failed upgrade of the settlement system has led to a lawsuit by ASIC. A new clearing system is set to launch in 2026, costing up to A$445 million.

Investors hope the upgrade will strengthen ASX’s operational resilience and improve its fortunes. The ASX’s outdated systems have struggled to keep up with modern demands. ASX continues to work on overhauling its systems, despite the recent outage being deemed unrelated. The ASX made a A$250 million writedown after abandoning plans to replace its settlement system with blockchain technology.

Read more at Yahoo Finance: ASX outage deepens investors’ doubts over tech overhaul