For the second time in two consecutive sessions, India’s NDS-OM, the online bond trading platform, is grappling with technical glitches, leading to a complete halt in its operations.
Traders reported experiencing intermittent connectivity errors, resulting in the platform shutting down at the same time as it did yesterday. Due to the technical issues, several traders have faced disruptions while attempting to use the system. One trader, representing a state-run bank, spoke about the recurring problem but wished to remain anonymous as they are not authorized to speak to the media.
As a consequence of the platform’s technical woes, the benchmark 7.26% 2033 bond yield reached 7.2143% in the latest trade recorded at 11:32 a.m. IST, as per data from the Clearing Corporation of India’s website. This situation has raised concerns among traders and market participants, as they await a resolution to the technical problems to resume normal bond trading activities.