Ways2Capital Reviews : Market Regulator Begins Probe Into Trading Glitches At NSE and MCX

Market regulator Securities and Exchange Board of India (Sebi) has started investigating last week’s technical glitches and trading halts at the National Stock Exchange of India (NSE) and the Multi Commodity Exchange Ltd (MCX), two people aware of the matter said.

“The regulator has sought a report from both the exchanges that have suffered technical glitches and trading halts for the second time within a year. Sebi will analyse the reports by the two exchanges and will respond in terms of corrective measures and actions,” said one of the two people quoted above.

An email sent to a Sebi spokesperson was not answered.

NSE was forced to halt trading for around three hours at the start of 10 July last year because of technical issues. On Thursday, it’s Neat on Web (NOW) systems suffered a software shutdown during trading hours.

Normal trading was not disrupted as the members had alternative modes of connectivity during the disruptions.

A spokesperson for NSE said, “NOW is a shared CTCL system which had a temporary disruption and has been rectified on the same day and the system was up and running. NSE trading platform is completely different and functioned smoothly with full efficiency that day.”

MCX suffered a trading halt in September last year and a repeat occurred on Friday when trading was halted twice. The first time, the systems halted for more than an hour at 7:12 pm and a second time at 10:11 pm. Normal trading resumed at 11 pm.
 
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