November 5, 2019 / 10:54 PM / 3 months ago

UPDATE 1-New Zealand's NZX delays market opening due to 'systems issues'

(Updates with NZX statement, updated timings for trading)

Nov 6 (Reuters) - New Zealand stock exchange operator NZX Ltd delayed the opening of markets for almost three hours on Wednesday because of “systems issues” in the derivatives market.

The glitch hit the open of the main board, debt market, Fonterra Shareholders’ market and derivatives market and the bourse was working with technicians to fix the issue.

The market had been due to open at 10:00 a.m. local time. NZX said the main market would now trade between 12:45 p.m. and its usual scheduled closing time of 4:45 p.m. Trading on the debt market would open at 12:30 p.m., it said.

An NZX spokesman said the issue related to “a component of the derivatives market functionality,” without giving more details.

“We are continuing to work with system vendors to identify the cause of the issue,” the spokesman said, adding that it would provide an update on the opening time for the derivatives market once the others opened. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Sandra Maler and Jane Wardell)

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