NSE Technical Glitch

The technical glitch prevented the ASISO facility in e-Kuber - the core banking solution of RBI - which is automatically triggered around midnight, from processing, said dealers

Three persons, who were part of the crisis management team at the National Stock Exchange (NSE), on Wednesday settled with markets regulator Sebi a case of trading glitch that occurred at the bourse in February 2021. The three executives settled the case with Sebi on non-monetary settlement terms as the regulator ordered them to do community service for the cause of investor education and awareness for 14 days. Also, they have been directed to take up and pass appropriate training courses. Those who settled the case were -- Ravi Varanasi, who was Chief Business Development Officer at NSE, K S Somasundaram, who was Chief Enterprise Risk & Information Security Officer of NSE and Mayur Sindhwad, who was Chief Operating Officer of the bourse, at the time of the glitch. Trading was halted at the NSE for nearly four hours on February 24, 2021, reportedly due to telecom links failure leading to unavailability of the online risk management system of NSE Clearing Ltd (NCL). NCL, a ...

The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know

In 1992, when the NSE was conceived, the idea was to offer strong competition to the unruly BSE. The situation has long reversed

It said trading could have continued as there was an issue only with two spot indices. Reasons for not activating the recovery site after 45 minutes of the outage also remained unknown

In Jan, Sebi floated a discussion paper proposing to ease ownership norms for new exchanges

This would be the first meeting of the newly-constituted Sebi panel on cyber security