NSE refers glitch to technical committee (Third Lead)

The National Stock Exchange of India (NSE) on Monday said that the matter pertaining to a technical glitch which impacted the intra-day trade on some segments has been referred to its internal Standing Committee on Technology.

According to the stock exchange major, the internal committee which comprises of public interest directors and technology experts will review "the problem" and approve measures to prevent recurrence of such glitches.

"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 NSE said in a statement.

A technical glitch occurred during the early-morning trade session on Monday and impacted trading on the Cash and Future and Option (F&O) segments. The glitch was noticed after the NSE stock rates were not in tandem with BSE (Bombay Stock Exchange) scrip prices.

Full-fledged trading resumed during the mid-afternoon session at around 12.30 p.m.

"NSE cash market segment did not function normally due to technical problem at the opening today and accordingly was closed," the statement said.

"The F&O and CDS market segments opened normally. Subsequently after giving notice to the market, the F&O segment was also closed."

The NSE said, "Two attempts to reopen the market were not fully successful and finally at the third attempt the market was opened at 12.30 pm in the cash and F&O segments, after the pre-open period. The currency derivative segment was functioning normally."

However, stock brokers contacted by IANS said that though normal trade resumed after 12.30 p.m. some minor issues in the cash segment remained before being fixed at around 1.00 p.m..

"It restarted around 12.30 p.m. but some minor display issues on the cash segment remained till 1.00 p.m. The Futures segment operated seamlessly after the restart," a stock broker told IANS here.

--IANS

rv/vt