The SEBI Questions NSE Why Trading Was Not Mitigated To NSE Disaster Recovery Site

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The SEBI also directed National Stock Exchange to explain the reasons for trading not migrating to the disaster recovery site after NSE trading halted on 24/02/2021.

Mumbai (ABC Live India): The Securities and Exchange Board of India has directed the National Stock Exchange (NSE) to carry out a detailed root cause analysis of the “trading halt” witnessed at NSE on 24/02/2021.

The SEBI also directed National Stock Exchange to explain the reasons for trading not migrating to the disaster recovery site.

The National regulator has asked NSE to submit its report at the earliest.

It was informed by NSE to SEBI that trading was halted at 11.40 am today due to “issues with the links with telecom service providers”.

The official of SEBI stated that they remained in constant touch with NSE officials till normalcy regained, and continued to monitor the situation closely. Further, NSE  was  also  advised  to  keep  the market  participants  updated  with  the evolving developments. The “trading halt” continued till 3.30 pm.

In view of the exceptional situation arising out of the “trading halt”, It was decided to extend the trading hours from 3.30 pm to 5.00 pm at NSE, BSE and MSEI.

The NDTV Reported on February 24, 2021 1:26 pm IST that the Trading has been halted on NSE due to a technical glitch as the live price quotes of spot Nifty and Bank Nifty indexes have stopped updating. "NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system," NSE said on Twitter.

Also, The Money Control, an Indian News portal reporting on financial matters reported that after trading resumed the NSE, BSE trading hours extended till 5 pm.

It is pertinent to report that on March 4, 2020, the National Stock Exchange of India Ltd (NSE) has successfully completed live trading and other operations from its Disaster Recovery (DR) site, on Monday 2nd March and Tue 3rd March 2020. The Press Release of this effect was issued by NSE after successful live trading and other operations from its Disaster Recovery (DR).

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