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NZX this morning experienced failure in multiple hardware servers.
These servers are the mechanical platform upon which the market infrastructure operates. A brief interruption was experienced with respect to the index feeds. This was restored mid-morning. NZX initiated business continuity planning procedures. Included in these procedures was the consolidation of the twice a day net batch settlement into one consolidated end of day batch.
Settlement of cash and stock will occur as normal on a usual business day.
The servers are the "tyres" upon which the Clearing House settlement system is driven, but are outside that system, and the failure in the servers is unrelated to the implementation of the Clearing House.
The Clearing House system continued to function, and business continuity processes also ensured that there was no market interruption or change to trading conditions.
