BSE Bolt Technical Issue
After the market opened at 09.15 AM today, Monday, November 1, 2010, it was observed that trade confirmations were not being received by -members using the BSE BOLT (BSE Online Trading System) trading system. The problem was due to technical difficulties faced in the trading system.
To identify and resolve the technical issue, the market was temporarily halted – between 10.45 AM to 10.55 AM. However, the problem persisted.
With a view to resolve the technical issue, it was decided to halt trading in the BSE Bolt system from 12.00 PM to 1.00 PM initially. This was subsequently extended to 1.30 PM and then eventually to 2.30 PM.
CMC engineers who worked on resolving the technical issue since 09.15 AM were able to identify and resolve it at around 1.20 PM. It was decided to resume the normal trading session at 2.30 PM to provide sufficient time to trading members to log in and download their order and trade positions to facilitate providing information to the customers and taking appropriate action later on.
All pending orders in the BOLT system at 12.00 noon when the market was halted, were not used for matching and were returned to -members keeping in mind the intra-day volatility.
BOLT system was launched in 1995. BOLT system works on the robust HP Non-Stop (Tandem) platform which provides complete redundancy of operating system and hardware failures. BOLT system has been developed by CMC Limited which provides the maintenance, operations and continual development support since the beginning. BOLT system handles more than 2.5 million trades every trading day and more than 18 million orders per trading day.
The last time, there was a stoppage in trading at BSE due to technical issues was in its Derivatives segment on January 22, 2008.