BSE faces technical glitch on first day of new trading system

Bombay Stock Exchange had migrated to a new 'BOLT Plus' trading system starting Monday

A technical glitch left some brokers unable to access the BSE’s trading platform on the first day of its switchover to a new system.

BSE had migrated to a new ‘BOLT Plus’ trading system on Monday. It had earlier launched these for the currency derivatives segment, as well as the equity derivatives segment. Monday was the first day of its launch in the cash segment.

Two BSE brokers confirmed there had been a technical difficulty at the beginning of the day.  “There was some issue. Some trading terminals were logged out it seemed,” he said.

Another source said the outage was for approximately four minutes. An exchange spokesperson said the issue was related to migration to the new platform, which required a restart of the system and the issue was sorted subsequently.

“The new trading system started from today. A glitch was reported because the system was restarted. Now it’s working fine,” according to an emailed statement from the exchange.

The BSE had conducted mock trading sessions for the new platform last week. A mock trading session was scheduled on Friday after trading hours and another on Saturday.  The new platform is faster than the older one and is part of an overall systems overhaul at Asia’s oldest stock exchange. The new platform allows traders to punch in orders with a response time of 200 micro seconds, according to an earlier statement from the exchange.