Disruptions at tele service providers, electronic vendors caused glitch: NSE

Mumbai: The National Stock Exchange (NSE) has reiterated that disruptions at the telecom service providers and electronic vendors were the reasons for the February 24 glitch. A press release issued by the exchange on Monday said the problem occurred because of two reasons: Connectivity issues on part of telecom vendors and programmes designed by the technology vendors did not work the way they were supposed to.

A person privy to the development said these observations were based on the root cause analysis conducted by NSE which has been submitted to the market regulator.

Connectivity on February 24 was disrupted due to some ongoing construction work around the exchange, said the press release.

“Even when there is a connectivity outage, the network was supposed to work fine,” the person said. “However, on February 24, the hardware and software architecture used by the exchange also did not function in the desired way due to faulty logic.”