********************************************************ASX Trade Production
Status : Paused
Please be advised that although trade reports are available during the ADJUST_ON session state, trade dissemination will not occur across ALL MARKETS for trade reports executed during this period.
Following consultation with Participants and ASIC, ASX advises that the ASX Trade Market will not re-open today. As a result, there will be no CSPA and the Market will move into Adjust ON at 17:00.
It has been identified that the technical issue with trade dissemination of instrument series in Partition 3 was triggered at 14:18:25. ASX is working to complete the dissemination of the impacted trades made from this time until 14:48:01 when the Market was placed into ENQUIRE.
All these trades are valid.
Trading on the ASX halted this afternoon. No transactions could be completed for around the last 1.5 hours of trade.
There is still no confirmation of the direct cause, although local trading forums are rife with rumours and speculation about what might have caused the shutdown.
While my exposure to Gold/Silver is predominantly through ASX listed stocks, it's days like this that are a good reminder why having a physical position is also extremely important.
It's easy to become complacent in Australia. Thinking that the issues plaguing other countries such as market closures, flash crashes and electronic bank runs can't possibly occur here, but the reality is with our reliance on technology based wealth our physical difference in location can mean very little at all in the grand scheme of things.
Chances are that this glitch will be resolved overnight and normal trade will resume at some point tomorrow, but what would happen if we were to experience a shutdown that lasted a few days, a week, a month? Are you prepared?
Gold/Silver are easily exchanged and portable items of wealth that could become priceless if we were to see some sort of shutdown of our financial system (either here in Australia or anywhere worldwide).
As well as metals it's probably a good idea to keep some local currency out of the system in an easy to access location.
In a world gone mad with electronic storage of wealth it's comforting to know that there is still the ability to keep wealth safe outside of the system.
Disclosure: Positions held in Gold & Silver. Not investment advice. Do your own research.