ASIC to probe ASX's market outage
The risk from increased oversight following last week's turmoil has been on the radar for industry watchers. Morgan Stanley analysts had predicted "incremental upward pressure on the technology and operational risk spend to ensure stability of ASX’s trading systems, as well as the risk of increased regulatory scrutiny".
If operating expenses rose 5 per cent, than it could put downward pressure of 3 per cent on earnings in the current financial year, Morgan Stanley estimated.
The market blackout was the major glitch in problems that afflicted the exchange last week.
Investors were only able to trade for half an hour …
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