Unavailability of online risk management system led to market shutdown, says NSE

The largest stock exchange, NSE, said the unavailability of an ‘online risk management system’ led to the nearly four hour shutdown of trading on Wednesday. It is now awaiting a detailed root cause analysis from its telecom service providers and vendors regarding the incident, the bourse said.

Explaining the series of events leading to the shutting down of trading, the NSE said it has multiple telecom links with two service providers to ensure redundancy and the two telcos informed it about instability of all their links, as per a statement.

Given that the online risk management system was unavailable, market functioning could not continue normally and hence had to be shut down,” it said.

The exchange said it was continuously working on resolution of the problem and once the same was resolved, it made an announcement on re-opening of the markets. It was also in contact with capital markets regulator Sebi and keeping it updated about the developments, the statement added.

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