NSE asks software vendor to identify reasons for disruption in NOW platform

By: | Published: May 31, 2018 3:53 PM

The exchange on May 24 witnessed a disruption in NSE NOW, which had got temporarily shut down for brokers and sub-brokers due to a technical problem.

The exchange on May 24 witnessed a disruption in NSE NOW

The National Stock Exchange (NSE) has asked its software vendor to analyse the reasons for last week’s disruption on its web-based tool NOW, senior officials said. The exchange on May 24 witnessed a disruption in NSE NOW, which allows traders to use their own software and hardware for trading on the bourse. According to media reports, the software had got temporarily shut down for brokers and sub-brokers due to a technical problem.

Now, the exchange has asked its software vendor to identify the reasons for the disruption in NSE NOW that affected traders last week and submit a report in this regard, the officials said. ‘Neat on Web’ or NOW is a shared computer-to-computer link and risk management tool for trading members, provided by NSE’s subsidiary Dotex. This licensed trading software offers direct connectivity to the NSE for trade execution and data feeds through trading terminals, web-based browsers and mobile devices.

Earlier, a spokesperson of the exchange said the cause for the problem was being assessed. In July last year, trading was halted for over three hours at the NSE due to a technical glitch, leaving investors with no real time updates. Moreover, markets watchdog Sebi has already begun initial probe into disruption in NSE NOW and technical problem with MCX’s trading system, regulatory officials said. Multi Commodity Exchange (MCX) on May 25 witnessed a technical problem with its trading system. The commodity bourse had experienced a trading halt in September last year too.

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