1. NSE technical glitch: Trading resumes but dealers say cash markets issues persist; derivatives functioning well

NSE technical glitch: Trading resumes but dealers say cash markets issues persist; derivatives functioning well

NSE resumed normal trading in cash and derivatives at 12.30 pm in its third attempt today, after a major technical glitch brought trading to a halt on India’s largest stock exchange on Monday for three hours, and its two subsequent attempts at starting the trade failed.

By: | Updated: July 10, 2017 1:40 PM
NSE resumed normal trading in third attempt after its two previous attempts failed, even as there were minor disruptions reported in the pre-opening trade.

NSE resumed normal trading in cash and derivatives at 12.30 pm in its third attempt today, after a major technical glitch brought trading to a halt on India’s largest stock exchange on Monday for three hours, and its two subsequent attempts at starting the trade failed. But the exchange said it was still trying to address a display issue which was preventing from updated prices being shown in cash markets, after dealers complained that there were still issues in executing trade orders in cash segment. Futures markets were functioning well with the F&O orders going through smoothly.

There were also reports of intermittent disruptions in the third special 15-minute pre-opening session during 12.15 am-12.30 am. Meanwhile, exchange data also showed a huge gap between buy price and sell price of some top scrips, including ITC Ltd, which was being quoted at Rs 335 on buy side, but at Rs 321 on sell side.

Earlier, NSE opened for trading in cash markets after apparently resolving the technical issue for the second time at 11.15 am, but continued to face technical issues, with the dealers not being able to place their bets. Before this, NSE said that it has solved all the broadcast issues, and resumed a special pre-open session at 10.30 am, with full trading scheduled to open at 10.45 am, but that was not to be, as it continued to face technical glitches, leading to a further delay in resumption of full trade, as pre-open session orders were still not getting executed. “We are working on the technical glitch, and hope to resume normal trading soon,” NSE Chairman Ashok Chawla said in an interview to ET Now.

NSE has reportedly informed the Ministry of Finance that the data glitch was due to a software issue, while the market regulator SEBI is also said to be coordinating with the exchanges on the technical issue. ET Now reported that the finance ministry and SEBI will watch out for any data breaches.

NSE suffered from a major technical glitch today morning, with price quotations for individual listed stocks not updating on Monday, which led to a halt in trade on India’s largest bourse, even as the rival stock exchange BSE seemed to assuage investor concerns saying that trading on its platform continues as usual.

Investors could not place trades on NSE since morning, in a problem that appeared to be widespread, a Reuters report said citing four unidentified dealers. The dealers said they did not know why the quotations were not updating. Meanwhile, BSE said, “We are not experiencing any technical difficulties today and trading is taking place as usual.”

NSE, the newer of the two main stock exchanges in India, commands over 80% of the equity cash and equity derivatives market, far ahead of the 14% controlled by BSE, which is Asia’s oldest stock exchange. This morning, brokers found that price quotes were not updating on NSE since open.

(This is a developing story)

  1. No Comments.

Go to Top