What technical issues have Indian stock brokerages faced?

Indian stock brokerages have faced intermittent technical issues where stocks bought by clients did not reflect in their portfolios due to settlement problems.

Did NSDL's services return to normal?

NSDL stated its services had returned to normal functioning after a network-related issue, having moved operations to a disaster recovery site.

How has the technical issue affected stock brokerage clients?

The settlement failures meant some customers could not sell the stocks they had bought or exit their positions.

Home / Business and Economy / Indian Brokers Still Reeling From Trade Settlement Glitch

Indian Brokers Still Reeling From Trade Settlement Glitch

6 Feb

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Summary

Brokerages faced intermittent technical issues since Tuesday.
Stocks bought by clients did not reflect in portfolios due to settlement problems.
NSDL stated services were normal after a network-related issue.

Indian Brokers Still Reeling From Trade Settlement Glitch

Indian stock brokerages encountered ongoing difficulties with trade settlement on Friday. This occurred even after the National Securities Depository Ltd (NSDL), the nation's largest depository, announced that its services had resumed normal functioning. The issues began earlier in the week, causing intermittent technical problems for brokerages.

Clients' purchased stocks were not reflecting in their portfolios due to settlement failures. This situation has persisted, impacting some customers' ability to sell their stocks or exit positions. NSDL attributed the disruption to a network-related issue, stating that operations returned to normal after activating a disaster recovery site.

Despite NSDL's assurances, sources at multiple large brokerages indicated that challenges remained on Friday. The delays in receiving trading files from the depository created significant chaos and difficulties in reconciling trades for both brokerages and their clients. The full extent of the problem remains unclear.