NSE Urges NOW’s Trading Members To Migrate To Alternate Platforms By Dec. 27
A security guard checks a motorcyclist entering the grounds of the National Stock Exchange of India Ltd. (NSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

NSE Urges NOW’s Trading Members To Migrate To Alternate Platforms By Dec. 27

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The National Stock Exchange on Thursday asked the trading members using NOW platform to migrate to alternate trading platforms by Dec. 27.

The NOW platform -- a shared CTCL (computer to computer link) facility -- would be shut down from Dec. 28.

"Accordingly, members are urged to migrate to alternate trading platforms available in the market by end of day Dec. 27, 2020," the National Stock Exchange said in a statement.

Also read: NSE To Launch Derivatives On Nifty Financial Services Index From Jan. 11

In addition, NOW's helpdesk has been informing members using NOW platform about the discontinuation date through regular calls and emails.

The NOW platform was originally scheduled to discontinue from Sept. 14. However, NSE extended the discontinuation date to Dec. 28 following requests from trading members.

The exchange requested trading members to adhere to the timelines since no further extension would be given.

Also read: Foreign Inflows Into Indian Equities Cross Rs 1 Lakh Crore In 33 Trading Sessions

NOW is a computer to computer link facility through which brokers were accessing the exchange's trading platform.

"Over a long and successful journey spanning 12 years, NOW empowered trading members to focus more on trading activities by minimising their overheads on non-trading related activities like maintaining infrastructure (hardware, network, application), system audits, etc.," NSE said.

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