Software-Related Issue Caused NSE Trading Halt
The matter is being examined by the internal technical team of NSE.
The three-hour shutdown that hit India's largest bourse, the National Stock Exchange on Monday, was the result of a software problem and not a cybersecurity-related compromise, officials of NSE told the market regulator.
The matter is being examined by an internal technical team of NSE and external vendors, said a media statement by the Securities and Exchange Board of India after a meeting with NSE officials on the issue. The team will analyse and identify the cause while suggesting solutions to make sure that it does not happen again, the statement added.
SEBI has also directed NSE to sumbit a detailed report on the matter and its strategy to ensure protection of assets in such events.
Trading was shut down in cash and derivatives segments within half an hour of Monday's opening on the NSE. The problem was only in NSE's cash market segment where prices weren't updating and orders were disrupted. Trading resumed after four attempts at 12:30 pm, following which the benchmark Nifty 50 hit a fresh closing high.
The regulator itself is looking at the matter "comprehensively" and has planned to interact with shareholders on what more needs to be done to avoid such recurrences, it said in the statement.
