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New Zealand's Stock Exchange Not To Reopen On Thursday After Cyber Attacks

New Zealand's Stock Exchange Not To Reopen On Thursday After Cyber Attacks

New Zealand's stock exchange will not reopen on Thursday for trading following offshore cyber attacks over the last two days, bourse operator NZX Ltd said.

New Zealand’s stock exchange will not reopen on Thursday for trading following offshore cyber attacks over the last two days, bourse operator NZX Ltd said.

The exchange pointed to network connectivity issues from the cyber attacks and said it is hoping to resume on Friday.

“This decision not to re-open has been made while we focus on addressing the situation,” the bourse said in a statement.

The cyber attacks on Tuesday and Wednesday targeted the exchange’s network provider through a distributed denial of service (DDoS) attack, which is a common way to disrupt a server by overwhelming it with a flood of internet traffic.

The bourse took the call to not reopen the main board, NZX debt market and Fonterra Shareholders Market after trading was halted at 11:10 AM local time (2310 GMT). NZX will also close the derivatives market on Thursday.

“We continue to address the threat and work with cybersecurity experts and we are doing everything we can to resume normal trading tomorrow,” NZX said.

Trading on Tuesday and Wednesday were impacted for different periods of time.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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  • First Published: August 27, 2020, 1:18 PM IST
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