New Delhi & Mumbai : The finance ministry today sought a report from SEBI on the technical glitch in the National Stock Exchange’s (NSE) system that had led to trading disruptions. Sources at the ministry said it was a technical problem that led to trading disruptions and there was no information about hacking, reports PTI.
“NSE deeply apologises for the glitch. The matter is being examined by the internal technical team and external vendors, to analyse and identify the cause which led to the issue and to suggest solutions to prevent recurrence,” the exchange said in a statement. Besides, the matter has been referred to the Standing Committee on Technology to review the problem and approve measures to prevent recurrence of such glitches, added NSE.
Investors faced problems on the NSE, which had briefly stopped trading in cash and F&O (futures and options) segments. Later, trading activities resumed at 12.30 pm. Sources said Sebi is constantly monitoring the situation and this sort of problem is a serious concern for the ministry, hoping that such situations do not happen again. The ministry has sought a report on the issue.
“Let’s wait for the report. The NSE will send a detailed report to Sebi. The report will be sent to us through Sebi. We expect an interim report from Sebi by the end of the day,” the sources said.
In a statement, the Securities and Exchange Board of India (Sebi) said it is in touch with the NSE and is closely monitoring the situation.
On the other hand, BSE is not facing any problems. However, due to spurt in trade volume of BSE’s shares, NSE sought clarification from rival BSE. A total of 5,941 shares of BSE worth Rs 64.58 lakh were traded on the NSE. The 140-year-old BSE Ltd, which got listed on NSE’s platform in February, said no price sensitive information is pending with it for furnishing to NSE. “Significant increase in volume has been observed in BSE Limited. The exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company,” NSE said.
According to Cogencis, this trade disruption on NSE did not result to huge increase in trade on BSE. Though volumes on BSE rose, they were not significantly higher as dealers said they would rather
wait for trade to resume on NSE or not trade at all. Investors are dependent on NSE to trade in large volumes due to its better network of broker members, a broker said.
