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Brokers raise complaint with NSE on disruption faced on Tuesday

ANMI wrote that its members faced a severe and serious connectivity problem with NSE software.

ETMarkets.com|
Nov 20, 2019, 03.17 PM IST
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The letter also stated that the relationship manager of NSE did not respond to brokers' complaints.
Mumbai: Brokers have raised a complaint with National Stock Exchange on disruption faced by clients in Tuesday's trade.

In a letter to NSE, industry body ANMI (Association of National Exchanges Members of India) wrote that its members faced a severe and serious connectivity problem with NSE software s 'Eneat,' 'Notis' & 'Nmass' for more than 30 minutes since the opening of the market on Tuesday.

The problem continued and its members were not able to login to 'connect2nse,' 'CIM,' etc, it added.

ANMI further submitted that it was becoming very difficult for members to handle such situations as one cannot infuse or remove margins etc. A few of its members said their margin files were not getting updated and hence exceeded 85 per cent limit that apparently forced them to square off the positions running into a huge financial loss for the clients.

The letter also stated that the relationship manager of NSE did not respond to brokers' complaints.

"The trading systems were working normally. Some members faced problems with the support systems of the exchange due to an inadvertent error on the part of the vendor. Normal operations resumed from 11:15am onwards, (as of November 19, 2019)," a NSE spokesperson said.

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