Undoubtedly, the recent technical glitch that occurred at NSE has been an eye-opener for multiple stakeholders in the ecosystem and while it has been spoken about across forums & social media channels, the glitch and resultant markets shut-down has given us an opportunity to introspect, analyze and conduct course-correction as feasible.
While regulatory bodies are conducting their investigation into the technical glitch, the trading halt & then extended trading time in the markets, which could have been informed prior, led to significant losses for traders with intraday positions. As has been reported across established media channels, a host of brokers had to square off open positions on BSE, which has comparatively much lower liquidity, resulting in considerably high losses for market participants.
At Ashika Stock Broking, we follow a simple principle of operation — Value Technology & Cherish Relationships! As a legacy brand, we have always strived to operate as an optimal confluence of technology adoption & hands-on customer-centric approach, to drive financial well-being & sustainable wealth creation.
I am delighted to share that despite the occurrence of this unplanned & unprecedented technical glitch that resulted in insurmountable losses to market participants, a mix of far-sightedness and strong relationship with clients enabled us to minimize the hit for a reasonable percentage of positions held on the day. It is true that no one can operate beyond structured norms but our endeavor is always to ensure that we are optimizing value for our customers while respecting the structure & operating by the book.
In my humble opinion, this technical glitch has affected the confidence of both institutional & retail investors across the globe, who look at Indian markets with enthusiasm & optimism. That being said, I also believe that every crisis represents an opportunity and in this case, all market stakeholders have a strong opportunity to introspect & install frameworks that allow us to handle this kind of a crisis in future in a way that minimizes monetary losses and ensures seamless recovery.
By Mr. Niraj Sarawgi, CEO, Ashika Stock Broking Limited