Technical problems force NSE to shut F&O, cash trading

In a major embarrassment for the NSE on a day when markets hit fresh all-time highs, the exchange was forced to halt F&O as well as cash trading for over three hours due to a ‘technical problem’.

“NSE cash market segment did not function normally due to technical problem at the opening on Monday and accordingly was closed. F&O and currency derivative segment (CDS) opened normally. Subsequently after giving notice to the market, the F&O segment was also closed,” the exchange said in a release.

Two attempts to reopen the market were not fully successful and finally at the third attempt, the market was opened at 12.30 pm in the cash and F&O segments, after the pre-open period. The currency derivative segment was functioning normally, NSE added.

The exchange further stated that it is apologetic about the glitch and that the issue has been referred to a special committee. “NSE deeply apologises for the glitch. The matter is being examined by the internal technical team and external vendors, to analyse and identify the cause which led to the issue and to suggest solutions to prevent recurrence,” the exchange said.

The matter has been referred to the Standing Committee on Technology, comprising of public interest directors and technology experts for review of the problem and to approve measures to prevent recurrence of such glitches, NSE added.