NSE clarifies on Nifty Futures 'freak trade', seeks explanation from broker

'Since order was within the operating range, the order matched with existing sell orders in the order book and two trades got executed at a price within the trade execution range,' says stock exchange

The National Stock Exchange (NSE) on Tuesday clarified on the 'freak trade' that occurred on Monday, which skyrocketed the price of Nifty Futures' contract to 16,546.

"We would like to clarify that on July 5, 2021 at the time of market opening, a trading member’s dealer placed a manual buy order for Nifty Near Month Futures in the first few seconds upon opening of the market at a price which was significantly higher than prevailing price in the market. Since the order was within the operating range, the order matched with existing sell orders in the order book and two