NSE F&O faces order execution issues: ICICI Direct

NSE F&O is facing order execution issues since 1:45 pm today. Futures of Nifty, Bank Nifty, FTSE and CNX IT are facing trading issues.

Amit Gupta of ICICI Direct says that the problem is at the NSE end for order execution. The exchange has to concede whatever is in pipeline either by cancelling those orders or continue with that once the future pricing starts. So far it is not there. We are keeping our fingers crossed when the exchange starts working again on the future price. Below is the edited transcript of his interview to CNBC-TV18. Also watch the accompanying video. Q: Are you facing trading issue at your end or do you think it could be a problem at the NSE’s end? A: The problem is at the NSE end. At this moment it is best to stop giving any fresh order to the exchange. We are not even confirmed that earlier orders have been executed or not as we have not received any confirmation yet. The exchange has to concede whatever is in pipeline either by cancelling those orders or continue with that once the future pricing starts. So far it is not there. We are keeping our fingers crossed when the exchange starts working again on the future price. Q: How will things pan out if and when it starts trading? A: The underlying is not moving and if the cash prices remain at what they are now then will not be any panic. There will be a smooth flow even if the exchange decides not to cancel the orders. If we underlying moves by more than 50-60 points then, once it start working we may see some volatility happening in the future prices. Then it will be difficult even for the exchange to decide upon the cancellation or the continuance of the order. So far we are not sure actually how it will pan out. Everything has to come from the exchange only. As underlying is holding the levels, so trading is expected to be smooth.