NSE, its arm NCL, settle trading glitch case with Sebi after paying Rs 72 crore
Individually, the National Stock Exchange (NSE) paid a total of Rs 49.77 crore and NCL doled out Rs 22.88 crore to settle the case that occurred in 2021, according to a settlement order.
Leading stock exchange NSE and its arm NSE Clearing Ltd (NCL) on Tuesday settled the trading glitch case with markets regulator Sebi after paying a settlement amount of over Rs 72 crore. Individually, the National Stock Exchange (NSE) paid a total of Rs 49.77 crore and NCL doled out Rs 22.88 crore to settle the case that occurred in 2021, according to a settlement order.
Trading was halted at the NSE for nearly four hours on February 24, 2021, reportedly due to telecom links failure leading to the unavailability of the online risk management system of NCL.
NCL, a wholly-owned subsidiary of NSE, is responsible for clearing and settlement of all trades executed on the exchange.
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