In a letter to the market regulator Sebi, the Association of National Stock Exchange Members of India (ANMI) said if there is uniformity of the product across the exchanges, the problems noticed on Wednesday would have got automatically resolved due to interoperability features.
On Wednesday, NSE was shut for nearly four hours due to technical glitch while BSE was open throughout the day. As a result, most of the open cash market positions were cross settled at high discount or premium on BSE.
The broker’s body also said that the technical glitch happened a day prior to monthly and weekly expiry has caused huge losses to members and investors. Hence, NSE should consider waiving the penalty provision for all open cash and derivative positions for the delayed system for Wednesday and Thursday, ANMI demanded.
