Technical glitches causing financial loss: Brokers to NSE

Mumbai, Nov 20 (IANS) 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.