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Hong Kong exchange suffers series of cyber attacks

Christian Fernsby ▼ | September 7, 2019
The chief executive of the Hong Kong Stock Exchange (HKEx) has conceded that the trading venue was subject to a series of cyber attacks this week.
Hong Kong Stock Exchange
Asia   Hong Kong Stock Exchange
The chief executive has insisted that an outage which brought derivatives trading to a halt was related to a software bug and not a hacker.

Topics: Hong Kong exchange cyber attack

Charles Li addressed reporters the day after traders complained they were unable to enter orders on the exchange's futures and derivatives trading system.

HKEx officials stated that "prolonged connectivity issues" led it to suspend the use of the system to "preserve an orderly market".

Trading resumed on Friday after the exchange fixed the bug that had originated in the software of a third party trading system and spread to HKEx's back-up system.

Li also told reporters that the exchange had suffered a denial of service (DDoS) attack on its open access website which had overwhlemed the network and affected its ability to display prices and publish filings.

The chief exectuive called for trust from traders and market participants. "We will continue to invest more to safeguard and improve” the information and technical infrastructure at the exchange, said Li. “We hope the public has the confidence in the robustness of our system.”