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New Zealand’s stock exchange (NZX) resumes trading after cyber attacks
- Friday | 28th August, 2020
(Reuters) – New Zealand’s stock exchange resumed trading on Friday, after facing disruptions for four consecutive days in the wake of cyber attacks this week, while the government said national security systems had been activated to support the bourse. There is no clarity on who was behind these two “offshore” attacks, but the failure to stop them has raised questions about New Zealand’s security systems, experts said. NZX Ltd had to halt trading until afternoon on Friday, after crashing earlier due to network connectivity issues, marking the fourth day that trading has been hit. The attacks forced NZX to halt trading in its cash markets, disrupting operations in its debt market, Fonterra Shareholders Market and derivatives market. New Zealand’s central bank has said cyber attacks could wipe out about 2-3% of the profits of the banking and insurance industries each year.
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