NSE shifts its trading to Chennai-based DRS for 2 days

NSE has shifted its trading from its main branch located in Mumbai to a Chennai-based Disaster Recovery Site (DRS) for 2 days. Zee Business Brajesh Mishra explained the possible reason behind this step of NSE in conversation with Zee Business' Managing Editor, Anil Singhvi.

Even as the NSE encountered glitches in its functioning during the early morning trade, Mishra said that it was still not clear if the work was happening from the disaster recovery back-up site or the main site. 

He was responding to a question from Zee Business Managing Editor Anil Singhvi if today's glitches were because of the issues in the main site due to which the decision was taken to operate from the Chennai site or the glitches arose because the trades were being performed from the back up site in Chennai.

What is a Disaster Recovery Site?

The Managing Editor explained that a disaster recovery site, also known as a backup site, is a place that a company can temporarily shift to following a security breach or natural disaster. The site is just one of the facets of the company's larger disaster recovery or business continuity plan.

Mishra said that market regulator Securities and Exchange Boad of India (Sebi) had set a guideline for every exchange for a drill run in their DRS after a certain period of time. This is supposed to maintain functional continuity even in times of emergency through DRS, he added.

Last year, NSE failed to operate through its DRS amidst operational failure.

Earlier, today, the Indian stock exchanges reported glitch amid massive sell-off on Monday as many users and investors complained. The shares of the companies had stopped updating on the real-time basis on the NSE in the early hour of trade.

"Trading in all segments is functioning normally. However, NIFTY and BANKNIFTY indices are intermittently not getting broadcasted. The Exchange is working on resolving the issue and shall keep the members informed," NSE India tweeted on its official Twitter handle.

Also Read: Broadcast in all indices resumes normally after Nifty Bank, Nifty encounter glitches in early trade

"This is to update you that broadcast has resumed normally in all indices," another tweet said following the above tweet. There were a series of tweets on this. 

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#NSE 2 दिनों के लिए Disaster Recovery System पर शिफ्ट…

क्या होता है Disaster Recovery System?

अनिल सिंघवी से समझिए इस वीडियो में..@AnilSinghvi_ | #StockMarket #NSEIndia @deepdbhandari pic.twitter.com/v1eIiAgV8J

— Zee Business (@ZeeBusiness) March 7, 2022