The Reserve Bank of Australia provided the findings on the investigation into the trade halt outage at the ASX shortly after a major upgrade to ASX’s equity trading platform.
The investigation found several key shortcomings in the project including:
- factors that suggested the ASX Trade system was not ready to go-live considering ASX’s near zero appetite for service disruption. This was the case even though the formal implementation readiness processes were completed and verified by multiple parties without objection to go-live
- there were gaps in the rigour applied to the project delivery risk and issue management process expected for a project of this nature, and
- risk and issue management, project compliance to ASX practices, project requirements and the project test strategy/planning did not meet accepted industry practices. It was not reasonable to expect the test plan used would meet the ASX’s near zero appetite for service disruption.
There is plenty more here at the link if you are interested.
