NSE Says Key Indices Stopped Updating Intermittently
Moneylife Digital Team 07 March 2022
Traders on National Stock Exchange (NSE) today faced problems with their trading when two of the NSE's key indices—Nifty 50 index and Nifty bank index—stopped updating. The glitch comes amid sharp falls in Indian shares after oil prices spiked on fears of a ban on Russian oil. 
 
In a tweet put out belatedly at 10.30am, NSE admitted that these two indices were "intermittently not getting broadcasted." NSE said that "The exchange is working on resolving the issue and shall keep the members informed," adding that traders were still able to execute their orders normally. 
 
Later, in a statement before noon, NSE claimed that normal broadcast had resumed in all the indices. NSE has suffered frequent outages in the recent past. 
 
The internet was immediately abuzz today with memes taking potshots at NSE.
 
 
Separately, the Bombay Stock Exchange (BSE) has issued a one-line clarification saying "BSE is working normally today." NSE is the largest derivatives exchange in the world and the third largest in the cash segment by volume.
 
It may be recalled that in July last year, NSE faced a severe long outage when the futures and options (F&O) and cash segment were halted due to technical glitch. At that time, we had pointed out that the NSE has suffered at least nine serious glitches in since July 2017, that is, in three and half years. 
 
Among the various issues that it faced were—a malfunction with its front-end software for brokers, called NOW, leading to orders placed by brokers repeated by the system several times and, in some cases, hundreds of times resulting in unintended trades; NSE being unable to upload end-of-day data on F&O contracts on its website or other issues, like the July 2021 telecom problem, that were blamed on the vendor.
 
In November 2021, market regulator Securities Exchange Board of India (SEBI) had issued show-cause notices to top executives of NSE for the trading halt on 24 February 2021. SEBI had also asked NSE to explain the reasons for not migrating trading to its disaster recovery site.
Comments
saharaaj
3 months ago
waiting for ratification from Himalayan Yogi
pmbhate
4 months ago
NSE IPO must be put on hold till it is thoroughly sanitized. Otherwise we will never know where the crores of subscription money will go.
anilkk65
4 months ago
Why do they always play down every problem that occurs at NSE by inserting the word "intermittently" while admitting them?
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