NSE ‘regrets’ trading halt

NSE 'regrets' trading halt

Mumbai: In the face of severe criticism over Wednesday’s four-hour-long trading halt, the National Stock Exchange said on Friday that it ‘sincerely regrets the incident.

At a time when questions are being raised as to why the disaster recovery site did not come to the rescue during the incident, the NSE said that it took the decision of not migrating to the recovery platform after detailed consultation and evaluation.

Capital market regulator SEBI, which has sought a detailed root cause analysis from the exchange, has also asked the NSE to explain the reason for not migrating to the recovery site.

In a statement on Friday, the exchange stressed on its commitment towards providing a robust, stable and reliable platform and outlined its investments made towards in the strengthening of the platform.

“NSE has a robust, resilient, secure and fault tolerant technology infrastructure supported by best-in-class equipment from vendors like Cisco, HP, Dell, Hitachi, Checkpoint, Palo Alto, Oracle etc., aided by able technology service providers like TCS, Cognizant, Wipro etc.,” it said.

Further, the bourse added that it has a strong technology governance process in place wherein the technology infrastructure is reviewed on a regular basis by committees such as the standing committee on technology, which has technology experts. Also, multiple types of audits are carried out by various firms and institutions with specialised expertise, it said.

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