Nasdaq halt sends Sebi into check mode
In the wake of an over three-hour technical glitch at Nasdaq on Thursday, Sebi is taking a precautionary stock of trading and risk management systems at stock exchanges in India.business Updated: Aug 23, 2013 23:40 IST
In the wake of an over three-hour technical glitch at the US bourse Nasdaq on Thursday, the Securities and Exchange Board of India (Sebi) is taking a precautionary stock of trading and risk management systems at stock exchanges in India to reassure their robustness.
While the systems in place at leading Indian bourses are considered to be very robust and can withstand any possible technical glitches, it is advisable to conduct a precautionary check after an unprecedented three-hour trading halt at a large exchange like Nasdaq, a senior Sebi official said.
The capital markets regulator and the stock exchanges in India as such conduct regular tests of various risk management systems and trading platforms to ensure their stability against technical and other glitches, he added.