The stock exchange on Monday morning indicated it had suspended trading while it investigated “issues with market data”.

The issue was first confirmed at 10:17am before the stock market was halted at 10:24am. At 11:58am, the ASX announced it had identified the issue and would be working to resolve it.

However, at 2:58 p.m., he decided to close the exchange for the rest of the day, promising that a resolution path was in place to allow trading to begin at 10 a.m. on Tuesday.

The ASX and technology provider Nasdaq identified the root cause as a software issue that limited the trading of multiple securities in a single order (combination trading), creating inaccurate market data.

The exchange attempted to launch its trading platform for the ASX share market on Monday, after conducting tests with Nasdaq, clients and independent third parties for more than a year, including four dress rehearsals.

Dominic Stevens ASX managing director and chief executive commented that the company was disappointed and "regrets the disruption caused to investors, customers and other market users".

"The disruption does not meet the high standards we have set for ourselves and the standards others expect of us," Mr Stevens said.

“Regardless of the extensive testing and sampling and the involvement of our technology provider, the ASX accepts responsibility. The onus is on us to get this right and ensure a reliable and sustainable trading system for the market.”

The problem happened after the ASX's revamped website crashed on its debut a month ago.

Sarah Simpkins

Sarah Simpkins is a journalist at Momentum Media, reporting mainly on banking, financial services and wealth.

Prior to joining the team in 2018, Sarah worked in commercial media and produced stories for a current affairs program on public radio.

You can contact her at [email protected].