What the joint statement by NSE and BSE says
In a joint statement released, Indian stock exchanges confirmed that all exchanges and clearing corporations functioned without any significant disruptions.While 11 trading members experienced temporary operational issues, these were quickly resolved, and overall trading and clearing activities remained unaffected.
“On July 19, 2024, there was a global outage of Microsoft Systems. This outage has been reported to have caused disruptions across various sectors globally. In India, all Exchanges and Clearing Corporations functioned without any impact” said a joint statement by Indian stock exchanges.
“Out of the 1400+ trading members’ ecosystem, there were 11 trading members who reported disruptions to their operations, which were either resolved during the day or are being resolved. Overall, Exchanges & Clearing Corporations have not witnessed any significant impact to the trading” the statement added.
The global Microsoft outage caused significant disruptions to airlines, banks, and other critical services worldwide. The root cause of the issue has been traced back to a faulty CrowdStrike Falcon Sensor update, which led to system crashes and the infamous Blue Screen of Death.
While India’s aviation sector was severely impacted by the outage, with numerous flight cancellations and delays, the country’s financial markets demonstrated resilience.
This incident underscores the importance of robust IT infrastructure and disaster recovery plans for critical systems.
