SEBI calls on exchanges, clearing corps to better deal with tech glitches- JOIN US FOR MORE DAILY FREE INTRADAY TIPS
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Market regulator Securities and Exchange Board of India (SEBI) admonished stock exchanges, clearing corporations and depositories on Friday to have procedures in place to deal with technological disruptions or cyber attacks, and to quickly share any information when such instances occur.
In a statement, SEBI added it would also undertake “a comprehensive review” of the technology and systems deployed at these institutions.
The statement comes after SEBI convened a meeting of relevant parties on Friday following a technology glitch at the National Stock Exchange (NSE) earlier this month that led to a near five-hour long trading disruption.
SEBI added NSE had assured the regulator at the meeting that the exchange was strengthening its internal processes “to further reduce the response time for recovery and also the adoption of automated processes.”