TIL Desk/Business/New Delhi/ Against the backdrop of a nearly four-hour outage at the National Stock Exchange last month, an RBI article on Friday suggested allowing trading of benchmarks Nifty and Sensex on all stock exchanges.
Trading was halted at the NSE for nearly four hours on February 24, reportedly due to telecom links failure leading to unavailability of the online risk management system of the NSE Clearing Ltd (NCL).
NCL, a wholly-owned subsidiary of NSE, is responsible for clearing and settlement of all trades executed on the exchange, according to the article. NSE is one of the world’s largest derivatives exchanges.
The article, published in the latest bulletin of the Reserve Bank of India (RBI), noted that the major issue in this incident was the ineffectiveness of interoperability because of shutting down of the NCL. “Another important failure was the inability to switch operations to the disaster recovery site.
