History of major NSE, BSE outages: Check when stock exchanges were disrupted

India’s both major stock exchanges the NSE and the BSE will hold two special live trading sessions on March 2 to transition to a disaster recovery site following the Securities and Exchange Board of India's (SEBI's) guidelines.

The sessions will be conducted in two phases. The first phase will be a 45-minute session that will start at 9.15 am with a block deal window at 8.45 am. The second session on the disaster recovery site will commence at 11.30 am and conclude at 12.30 pm.

Pre-open open time for the first session will be 9 am and close time will be 9.08 am. The second pre-open session will begin 11.15 am and close 11.23 am.

This session aims to strengthen the exchange's resilience against unforeseen disruptions, relocating operations to a disaster recovery site in emergencies such as security breaches to ensure normal functioning.

SEBI's March 22, 2021 circular outlined a framework for business continuity plans and disaster recovery sites, prompting a reassessment due to technological advancements and process automation.

Both Indian and global markets have experienced numerous glitches in the past. Such issues are widespread globally, affecting leading exchanges and disrupting trading activities.

Here are some instances from around the world:

February 24, 2021: The National Stock Exchange (NSE), the world’s largest derivative bourse by volume, halted trading for four hours due to a technical glitch. The Mumbai-based exchange closed all trading at 11.40 am and trading could only resume at 3.45 pm as the session was extended by one and a half hours.

November 16, 2020: A software problem halted trading at Australian Securities Exchange (ASX) for 20 minutes. The issue affected trading of multiple securities in a single order and led to inaccurate market data.

October 1, 2020: The Tokyo Stock Exchange halted trading for a full day due to a hardware glitch inside the trading system. The halt affected trading for most users.

July 1, 2020: Germany’s electronic trading platform Xetra, the exchange operator at Europe’s Deutsche Boerse, suffered a three-hour outage due to a problem with third-party software. The issue affected some European bond and stock futures.

September 24, 2019: The NSE system faced connectivity issues with internet service providers, which resulted in a trade outage in the last 15 minutes of the session, impacting several participants with active positions in the market.

August 16, 2019: The London Stock Exchange (LSE) suffered a software issue which forced the postponing of opening of trade by nearly two hours.

April 25, 2018: The New York Stock Exchange (NYSE) suspends trading in five stocks, including Amazon and Alphabet, after a technical glitch affected trading symbols.

July 11, 2017: Trading halted on NSE for three hours as quotation stopped updating.

July 4, 2017: A Nasdaq glitch showed prices of major tech stocks, including Alphabet, as $123 per share,86 percent below actual value.

July 3, 2014: The BSE halted trading for three hours due to network outage.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.