NSE, India’s largest exchange by trading volume, had to encounter a major technical glitch on February 24 which resulted in disruption in trading.
The incident occurred just a day before the February series F&O expiry and many traders were left scrambling to square off open positions ahead of the derivatives expiry.
Trading across segments was halted at 11.40 am due to “issues with the links with telecom service providers”, as per NSE. The exchange said it depends on two telecom service providers for connectivity, and both failed simultaneously resulting in the outage.
NSE eventually resolved the issues and on a request SEBI allowed both the exchanges NSE & BSE to extend trading hours till 5 pm from the usual 3.30 pm.
However, such events make investors realise that one must be always prepared for any kind of eventualities.
Here’s what market experts had to say about the glitch.
Watch the video:
