Bursa Malaysia explains reason behind trading glitch

KUALA LUMPUR: It was a unique set of circumstances, something that Bursa Malaysia had not experienced before, which caused the differences in the interrupted trading patterns last Thursday and Friday.

The differing stock prices on Bursa Malaysia’s website and on trading platforms on Friday came after an outage at the exchange at 3.30pm on Thursday. Trading only resumed on Friday at 9am.

 

Without elaborating on the technical issues, Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said the problem has since been rectified. “Firstly, we apologise to all participants of the exchange and to the stakeholders.

“More importantly, it’s making us rethink and re-evaluate all our core systems to ensure it doesn’t happen again, ” he told a press conference here after the Invest Malaysia 2020 –Virtual Series 2 session.

 

“You would have seen some suggestions that it was ransomware attacks or some cyber attacks. That’s not the case. It was just a unique server circumstance. It was purely technical, ” he said.

Umar also said that the re-emergence of retail investors in the market is a positive sign, as the exchange has been working hard to bring retailers back.

21 Jul 2020