Monday 1 November 2010

BSE Shuts for 90 minutes - Who'll bear the cost involved?

BSE Shuts for 90 minutes - Who'll bear the cost involved?

This was no planned shut-down. This was completely sudden and unexpected.

Let's take the hypothetical position of a person who had an open intra-day position just before the shut-down. Imagine his/her plight if he had to catch a flight around 2.00 PM???

If he was subsequently forced to square off the position and he ended up incurring a loss, who'll bear the same?

Guess that this kind of situation is unacceptable even if the question is hypothetical.

Hope that someone files a PIL on this issue. Or SEBI should take proactive action against BSE - and levy hefty penalities. And heads must roll.

Regards,

N


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