SEBI Asks NSE Why Trading Wasn’t Shifted To Disaster Recovery Site
SEBI has asked the National Stock Exchange to submit a report on root cause analysis of the trading halt on Wednesday.
SEBI has asked the National Stock Exchange to submit a report on root cause analysis of the trading halt today, according to a statement issued by the securities and market regulator.
All trade halted on the NSE for over three hours on Wednesday due to “issues with the links with telecom service providers,” said the country’s largest stock exchange earlier in the day.
Trading resumed only at 3:45 p.m., well after the ordinary trading session would have closed. Both the NSE and rival BSE ran an extended trading session till 5 p.m.
Given the almost day-long outage at NSE, the Securities and Exchange Board of India has also asked the exchange to explain why trading was not migrated to the disaster recovery site.
BloombergQuint raised this question with NSE earlier in the day and did not get a response. The delay in shifting to a backup site could be because of some hardware issues, senior NSE officials told BloombergQuint on the condition of anonymity.
SEBI has advised NSE to carry out a detailed root cause analysis of the “trading halt” witnessed at NSE today and also explain the reasons for trading not migrating to the disaster recovery site. SEBI has asked NSE to submit its report at the earliest.SEBI statement
The regulator said it had been in constant touch with NSE officials and continued to monitor the situation closely all day, though it issued a statement only after the extended trading session closed.
“In view of the exceptional situation arising out of the “trading halt”, it was decided to extend the trading hours from 3:30 p.m. to 5 p.m. at NSE, BSE and MSEI,” the SEBI statement said.