Why BSE Had to Shut Trading For 3 Hours Today
- Several users were logged out abruptly due to misbehavior of some of the network components in the BSE network. At 9.42 a.m., the number of primary connections came down to less than 2,000 from a peak of 10,000 primary connections forcing the BSE to close markets.
- BSE and its network technology providers worked in coordination to identify, isolate and resolve the problem. Experts from US and other support locations also worked throughout the period to resolve the problem.
- The problem was resolved by 12.15 p.m. and after initial testing, it was decided to start the market from current production site located at BSE building. Subsequently, the currency market started at 12.34 p.m., equity derivatives market started at 12.36 p.m. and equity market started at 12.45 p.m. after a pre-open period from 12.37 p.m. to 12.45 p.m.
- BSE and its technology partners, HCL Comnet and Cisco will prepare a root cause analysis report for BSE's Board of Directors and Sebi. The root cause analysis report will contain the details of the incident, the reasons for the same, how it was repaired, steps suggested and being undertaken with timelines to eliminate recurrence of such a specific event or similar events.
- The BSE management said it will take all actions necessary to ensure that the markets function without any disruption in future.
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