HDFC Securities Says Working With TCS To Fix NSE F&O Platform Glitch
HDFC Securities said all other segments including equity and currency and commodity derivatives are working properly.
HDFC Securities on Thursday said it was working with its IT vendor Tata Consultancy Services Ltd. to resolve the glitch preventing users from placing orders in the NSE derivative segment amid significant market declines.
"We are facing intermittent issues with respect to the order NSE derivative segment. We are working together with our vendor TCS to resolve the same," the company said in a statement, following complaints by users on social media.
All other segments, including equity, BSE derivatives, stock lending and borrowing mechanism (SLBM), and currency and commodity derivatives, are working properly, said HDFC Securities.
The brokerage offers trading of financial instruments via its mobile app and website.
The brokerage faced the technical issues at a time when the Indian stock markets bled through the day, with both the benchmarks Nifty and Sensex shedding over 2% after regulatory changes to curb derivatives trading and geopolitical uncertainty hit sentiment.
The Securities and Exchange Board of India on Tuesday introduced a range of new measures under its derivatives framework to strengthen the equity index derivatives market. The new regulations range from limiting one benchmark index per exchange for weekly expiry derivatives contracts to mandatory upfront collection of option premiums from buyers.
The new regulations will come into effect in phases, starting from Nov. 20 onwards.
Notably, the measures announced by SEBI are based on the recommendations made by its expert working committee and secondary market advisory committee to tighten regulations for retail individual derivative traders. In a recent study, the market watchdog found that nine out of 10 traders in the F&O segment faced losses in the three-year period ending March 2024.
