Trading glitch in BSE again; bourse says teething trouble only

Leading stock exchange BSE witnessed a brief disruption in trade for the second straight day today on its new platform even as it expressed the hope that things will stabilise on the new system soon.
"Minor teething troubles were seen by a few participants during the opening session in the morning which have been identified and rectification put into motion," BSE said in a statement.
The exchange had introduced Bolt Plus, one of the fastest trading platforms, on Monday.
BSE had witnessed a minor glitch on its new trading platform for four minutes on Monday also. There was no trading on Tuesday as bourses remained closed on account of 'Ram Navmi'

"We believe that system of various participants will stabilise over few days in terms of their integration with BSE's new trading platform and provide India a world class integrated trading platform eco-system which will put Indian exchanges in the top 1 percentile of the trading platforms in the world in terms of speed and throughput," BSE said.
Expressing satisfaction with progress in technology transfer for the first two days, the exchange said so far more than 900 members have traded on the new platform.

The new trading system is providing 200 micro seconds response time and can handle 5 lakh orders per second.

BSE claimed the system is faster than any exchange in India by at least 10 times with throughput capacity also higher by similar numbers.
"Despite the increase in speed, BSE doesn't intend to provide preferential treatment to members having co-location servers," it said.
Over the first two days of trading, more than 900 members have traded on the new system, while more than 13.66 crore orders were entered in the system.
The exchange noted that over 50 vendors had participated in this mammoth exercise over a period of 6 months to ensure a smooth transition for members and users to the new system.

"Internationally, this is one of the smoothest technology transfer that has taken place," BSE said.
BSE is expecting to improve its ranking in many areas such as the derivative segment "once the new system is adopted well and is implemented in all brokerage houses in entirety over the next few days".
The bourse had already implemented the new system for currency derivatives on November 28, 2013, Interest Rate Futures on January 28 and Equity derivatives on February 10.