New Zealand Finance Minister Grant Robertson, pictured speaking Aug. 17, said the government is taking the cyberattack seriously.
Photo: Hagen Hopkins/Getty ImagesWELLINGTON, New Zealand—New Zealand activated its National Security System in response to a prolonged cyberattack that disrupted trading on the country’s stock exchange this week.
Trading on New Zealand’s securities market was halted for a fourth day on Friday by a denial of service attack that NZX Ltd., NZX -2.96% the exchange’s operator, said came from overseas.
Finance Minister Grant Robertson said the Government Communications Security Bureau spy agency had been directed to help the exchange’s operator. He said the National Security System was activated, requiring government agencies to coordinate in response.
“There are limits to what I can say today about the action the government is taking behind the scenes due to significant security considerations,” Mr. Robertson said at a press conference.
“We’ve got the highest levels of government involved and our security agencies involved as well,” he said. “We’re taking it seriously.”
The exchange’s website was offline for part of Friday morning and NZX halted trading for stocks and debt.
In an earlier update, the exchange had said the market would operate as normal Friday after putting in place additional measures to keep systems operating.
Trading resumed in the early afternoon.
“ “New Zealand does not have the same capacity as say the U.S. or U.K. to defend or retaliate. Basically NZX is a convenient target.” ”
More than 37 billion New Zealand dollars (US$24.6 billion) is traded annually on the NZX-run exchange, which provides an important source of capital for local businesses, especially agricultural groups such as Fonterra Co-operative Group Ltd., the world’s largest dairy exporter. Many of Australia’s largest financial institutions, including Westpac Banking Corp., are dual listed in New Zealand.
Auckland University of Technology computer science professor Dave Parry said the attack is relatively crude and wouldn’t gain any data.
That could mean it is a criminal group demonstrating its ability to carry out a type of attack that disables and can be used to demand ransom, Prof. Parry said.
“New Zealand does not have the same capacity as say the U.S. or U.K. to defend or retaliate,” he said. “Basically NZX is a convenient target.”
“Terrorists, hostile governments, political groups and even bored kids could be involved,” said Prof. Parry. “But I would see criminal organizations as the most likely culprit at the moment.”
NZX spokesman David Glendining said that the cyberattacks had prevented company announcements from being released to the market but that trading systems aren’t affected.
The exchange has to halt trading in those circumstances because the release of company announcements via NZX’s system is fundamental to the fair operation of the market, Mr. Glendining said.
NZX has said it is working with the Government Communications Security Bureau, international security partners and its network provider to respond to the denial of service attacks.
The benchmark NZX 50 index settled 0.3% higher at 12093.52 following Friday’s abbreviated session—a record close.
Write to Stephen Wright at stephen.wright@wsj.com
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