The Nairobi Securities Exchange (NSE) on Monday suffered a system glitch forcing a trading halt. FILE PHOTO | NMG
Summary
- The Nairobi Securities Exchange (NSE) on Monday suffered a system glitch forcing a trading halt.
- The system outage, the second this year, angered investors keen to trade as trading was halted since Monday morning’s trading session.
- NSE attributed the glitch to “technical challenges occasioned by the unavailability of connectivity to the Central Depository System (CDS),” adding this “has made it impossible to buy or sell shares.”
The Nairobi Securities Exchange (NSE) on Monday suffered a system glitch forcing a trading halt.
The
system outage, the second this year, angered investors keen to trade as
trading was halted since Monday morning’s trading session.
NSE
attributed the glitch to “technical challenges occasioned by the
unavailability of connectivity to the Central Depository System (CDS),”
adding this “has made it impossible to buy or sell shares.”
“The
Nairobi Securities Exchange (NSE) wishes to notify market participants,
investors and the general public that trading activities are currently
unavailable due to technical challenges occasioned by the unavailability
of connectivity to the Central Depository System (CDS),” said the NSE
in a statement.
“The aforementioned has affected core services including trading of equities and bonds.”
The bourse said it was working to resolve the glitch.
“Our
technical teams are working closely with the Central Depository and
Settlement Corporation (CDSC) towards resolving the issue in the
shortest time possible and the market will be duly notified when
services have been restored,” said the NSE.
The outage is the latest in a streak of costly glitches at the NSE in recent years and the second one this year.
Early January this year, a system outage left NSE investors
counting heavy losses after trading was halted for about half of the
day.
The NSE said at 3:49 pm it had
resolved the glitch. Consequently it extended trading hours from the
normal closing time of trading which is 3:00 pm to 5 pm.
“The
NSE wishes to notify market participants, investors and the general
public that trading services have been successfully restored,” said NSE
in an update.
“Following this, trading hours have been extended to 5:00 p.m.”
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