Zerodha CEO: Outage was due to BSE-related issue, impacted most brokers

Zerodha was down for around 30 minutes today. The outage is reported to have started around 10.53 am and lasted till 11:25 am. Zerodha CEO Nithin Kamath said that there was an issue at Bombay Stock Exchange and the company couldn’t have done anything about it.

What Zerodha caused the outage

Zerodha in a post on X (formerly known as Twitter) confirmed the glitch. In the post it said “Due to a connectivity issue at BSE, some of our users may be seeing orders in the “Open Pending” state for BSE F&O orders.This issue is across brokers. We are working with BSE to update the status of these orders.”

Once the services were restored, the investor trading app updated its users on X saying that the issue has now been resolved by the exchange.

Zerodha CEO Nithin Kamath says issue affected most brokers

In a post on X, Nithin Kamath, founder and CEO of Zerodha said that the issue affected most brokers. “Today, the Bombay Stock Exchange (F&O) was down for most brokers from 10:53 AM to 11.25 AM. Contrary to whatever the incorrect media reports are saying, this was an issue that affected most brokers. Unfortunately there was nothing we could have done about it,” he wrote.

Affected traders share their experience on X

This is the second time, Zerodha services faced a glitch in less than 15 days. Angry traders took to X to share their experience while expressing concern about losses incurred. “Supposed to have 92 k profit but could not execute because #zerodha stucked. When executed got 19 k loss.
@zerodhaonline give me back my money as you are solely responsible for this,” wrote one user on X.

Another X user wrote “Incurred a loss of over 15L today due to a Zerodha glitch. Orders were pending from 10:55 AM, and I was unable to cancel or modify them. At 11:24 AM, all orders were executed at the previously pending price, forcing me to square them off at the current price, resulting in a loss of over 15 lakhs across two accounts. @zerodhaonline this is unacceptable and payback my losses asap”.

“It’s been 15 min and orders still open pending. @zerodhaonline You mother****** should be taken to court. You’ll pay every penny to every customer this time. Affected people retweet and comment under this,” said a third.

“#zerodha what is this? If there any loss in position who is responsible for that,” said another.