Trading disruption

Stock exchanges should be better prepared

The outage at the National Stock Exchange (NSE) on Wednesday highlighted weaknesses in India’s financial trading infrastructure. The NSE now needs to coordinate with the market regulator, the Securities and Exchange Board of India (Sebi), and determine what occurred, preferably through an independent inquiry committee headed by external experts. Those findings, whatever they are, should then be published in a transparent manner and steps should be taken to ensure that incidents of this nature do not occur again, insofar as that is possible. The NSE and Sebi also need to review the information dissemination system to ensure that there is