On February 24, the National Stock Exchange (NSE) suffered a technical outage that wiped out almost the entire trading session, barring the first 50 minutes or so. As I wrote in this column two weeks ago, the handling of this episode (10th NSE glitch in less than four years) was inept. A series of things went wrong, such as the disaster recovery site did not work, interoperability did not work, and there was no communication from the NSE, until 3.17 pm, that the market would restart. By then, big brokers had squared off intraday positions, assuming that the market would
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