The Association of National Exchanges Members of India has written to the National Stock Exchange to identify and annul trades that occurred on account of a glitch in the NSE NOW web-based trading software.
The Association of National Exchanges Members of India has written to the National Stock Exchange to identify and annul trades that occurred on account of a glitch in the NSE NOW web-based trading software.
“We are getting flooded with emails from distraught members on account of innumerable instances of multiple trades most of which did not get reflected till the EOD file downloads,” ANMI President Rajesh Baheti wrote, seeking compensation “for losses faced by members and clients”.
“NSE confirms there was no disruption to its trading system today. ‘NOW’ is a shared CTCL system which had a disruption which has been rectified and the system is now up and running," NSE spokesperson told Moneycontrol. "The members had alternate mode of connectivity during the disruption and hence trading was not disrupted. The reasons for disruption are being assessed.”
NSE NOW is a licensed trading software that offers direct connectivity to NSE exchange for trade execution and data feeds through trading terminals, web-based browsers and mobile devices.
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NOW supports trading in all of the products on NSE cash and derivatives markets, as well as mutual fund units on exchange and trading on other exchanges.
Members are able to access smart order routing, historical and real-time intra-day charting and other user friendly tools. In addition to its trading desk features, NOW has a built-in risk management system and allows access to our suite of data feed products, NSE said on the website.