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Technical glitches causing financial loss: Brokers to NSE
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SME Times News Bureau | 20 Nov, 2019
Stock brokers have written to the National Stock Exchange (NSE) stating
that they are incurring financial losses owing to the repeated technical
glitches in the NSE software.
Association of National Exchanges
Members of India (ANMI) said in a letter said that its members are
facing "severe and serious problem with NSE software of Eneat, notis
& nmass connectivity".
"ANNMI submits that it's members are
facing since the opening of the market today a severe and serious
problem with NSE software of Eneat, notis & nmass connectivity for
more than 30 mts and still, the problem is continuing and not able to
ldgin to connect2nse, ClM,etc," ANMI said in the letter.
"A few
members reported saying their margin files are not getting updated and
hence exceeding 85 per cent limit that apparently forcing to square off
the positions running into a huge financial loss to the clients," ANMI
said in the letter on Tuesday.
Recently, the market regulator had
levied a penalty on NSE over a technical issue. The SEBI-appointed
Technical Advisory Committee is also investigating frequent technical
glitches in NSE systems.
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