SEBI assures steps can be taken to rectify NSE glitch

The Securities and Exchange Board of India on Thursday stated that it’ll take all essential measures to rectify the underlying causes for the four-hour lengthy buying and selling glitch on the National Stock Exchange (NSE).
In a press release issued Thursday, the regulator stated that it’ll additionally tackle any institutional deficiencies that will have been behind the outage at NSE, which triggered immense issues for market intermediaries and contributors. Sebi stated that it has already requested the inventory alternate to undertake an in depth evaluation of the root-cause for the technical glitch, which NSE claimed was attributable to “issues with the links with telecom service providers”.

“It is pertinent to note that despite the trading halt, the framework of interoperability put in place by Sebi facilitated market participants to continue their transactions at other stock exchanges, thereby allowing them to seamlessly trade or square off their existing positions,” Sebi stated.
The NSE stated the unavailability of an ‘online risk management system’ led to the shutdown. It can be awaiting an in depth root trigger evaluation from its telecom service suppliers and distributors.