Sebi chief to meet officials of stock exchanges next week
New Delhi: Regulator Sebi will hold a meeting with officials of stock exchanges next week to discuss various issues, including instances of technical glitches in trading platforms.
The meeting of representatives from the bourses with Sebi Chairman Ajay Tyagi is scheduled on June 6, according to officials at stock exchanges.
The exchanges are expected to apprise the Securities and Exchange Board of India (Sebi) about the various developments related to the capital markets, they said.
Besides, the regulator may take up the R Gandhi committee report on norms related to Market Infrastructure Institutions (MIIs).
According to the officials, the issues of recent technical problem with MCX's trading system and "disruption" in NSE's web-based tool NOW, are expected to be discussed.
The regulator has already begun an initial probe into last week's technical glitches suffered by the two exchanges. It would look into whether adequate safeguard mechanism was in place to avoid such situations, senior officials said.
In July last year, trading was halted for over three hours at the National Stock Exchange (NSE) due to technical glitch, leaving investors with no real time updates. Again on May 24, the exchange saw a "disruption" in its web-based tool NOW, which allows traders to use their own software and hardware for trading on the bourse.
Besides, Multi Commodity Exchange (MCX) had experienced a trading halt in September last year and again trading was stopped on May 25 on its platform due to a technical glitch.
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