NSE Trading Halted Due to Technical Issue

Moneylife Digital Team 24 February 2021

Investor Interest

Stock trading at the National Stock Exchange (NSE) has been halted following a technical error with its telecom links. According to social media posts, trading has been halted on NSE across brokers. There is an issue with live ticks for NSE indices like Nifty 50, Nifty Bank, and others across brokers. Meanwhile market regulator Securities Exchange Board of India (SEBI) has asked for a report on the trading half from NSE and explain reasons for not migrating trading to its disaster recovery site.

NSE closed futures and options (F&O) trading at 11:40am and cash market at 11:43am. At 10.08am today, the rates stopped to update on NSE.

In a statement, a spokesperson from the exchange says, "NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system. We are working on restoring the systems as soon as possible. In view of the above all the segments have been closed at 11.40am and will be restored as soon as issue is resolved."

We are working on restoring the systems as soon as possible. In view of the above, all the segments have been closed at 11:40 and will be restored as soon as issue is resolved.
— NSEIndia (@NSEIndia) February 24, 2021

On the other hand, BSE says trading on its platform is normal.

BSE continues to have normal trading in all segments today.

— BSE India (@BSEIndia) February 24, 2021

Later, both NSE and BSE decided to reopen markets for extended trading from 3.45pm to 5pm. All F&O MIS positions will get squared off at 4.15pm and all F&O CO positions will forcibly be squared off by 4pm. Only CNC and normal orders will be allowed in the extended session.

Here are the market timings shared by NSE for Wednesday's trading:

F&O segment normal market will re-open as follows:
Normal market open time: 15:45 hrs
Normal market close time: 17:00 hrs
Trade mod cut off time: 17:30 hrs

CD segment normal market will re-open at 15:30 hrs
SLB market will re-open at 15:30 hrs

CM Segment Market will Re-open as follows:
Pre-Open open time: 15:30 hrs
Pre-Open* close time: 15:38 hrs (random closure in last minute)
Normal Market open time: 15:45 hrs
Normal Market close time: 17:00 hrs

Call Auction Illiquid session open time (1 sessions of 1 hour): 16:00
Post close start time: 17:10 hrs
Post close end time: 17:30 hrs
Trade Mod cut off time: 17:45 hrs

SEBI seeks report from NSE on trading halt

The market regulator has advised NSE to carry out a detailed root cause analysis of the trading halt witnessed at NSE today and explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest.

In a release, SEBI says it was in constant touch with NSE officials and continued to monitor the situation closely. NSE was also advised to keep the market participants updated with the evolving developments.

"The trading halt continued till 3.30pm. In view of the exceptional situation arising out of the trading halt, it was decided to extend the trading hours to 5pm from 3.30pm at NSE, BSE and MSEI," SEBI says.

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