SEBI responding to the trading halt has questioned by India’s largest bourse NSE on why trading did not migrate to the disaster recovery site. The DR site is a backup site which is located in another city and is a replica of the main production site in Mumbai
In fact, the National Stock Exchange had informed brokers in October that for two complete trading days, September 28 & 29 the bourse had operated entirely out of the disaster recovery site, notably without any issues. Ironically the next round of testing is due end of March.
SEBI has sought a complete report including the details of internal assessments which led to the 4-hour trading halt on Wednesday. SEBI however reassured investors that the market regulator would take all necessary measures to ensure rectification of the underlying causes including addressing institutional deficiencies.