Neat on Web (NOW), a National Stock Exchange (NSE)-promoted order-taking platform mainly used by brokers catering to retail players, faced tech issues on Thursday.
According to stock brokers whom BusinessLine spoke to, the online platform was hit by a ‘glitch,’ and did not show proper order or trade confirmations.
“When we put in an order for 9,000 shares, the confirmation came for 90,000 shares; the platform was shut down by the NSE mid-day ,” said a Mumbai-based broker.
NOW is a shared computer-to-computer link and risk management tool for trading members, provided by the NSE’s subsidiary Dotex. The licensed trading software offers direct connectivity to the NSE for trade execution and data feeds through trading terminals, web-based browsers and mobile devices.
“The NSE confirms there was no disruption to its trading system today. NOW is a shared CTCL (Computer-to-Computer Link) system that had a disruption, which has been rectified and the system is now up and running,” an NSE spokesperson said in a statement.
“The members had alternative modes of connectivity during the disruption and hence trading was not disrupted. The reasons for the disruption are being assessed,” the spokesperson added.
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