Sebi, exchanges in talk over NYSE glitch

The Securities and Exchange Board of India (Sebi) and stock exchanges have held talks after a software glitch halted trading for over three hours in the New York Stock Exchange (NYSE) on Wednesday. Officials said the halt in trade, one of the most serious ones in the last two years, had made the regulator cautious, given the volatility in the market. "Since yesterday (Wednesday) night we have been discussing with each other. Our understanding is that it was a software upgrade, which created certain issues," said Ashishkumar Chauhan, MD & CEO of the BSE.