NSE says technical fault to blame for trading delay

An investor monitoring trading at NSE
An investor monitoring trading at NSE. FILE PHOTO | NMG 

Trading has resumed at the Nairobi Securities Exchange (NSE) #ticker:NSE following a delay occasioned by the bourse's trading system.

NSE delayed opening of trading on Monday morning after a hitch in the trading system.

"The Nairobi Securities Exchange (NSE) has delayed commencement of trading activates due to challenges experienced by a dependent System of the Automated Trading System (ATS)," NSE said in a statement following the outage.

Following the technical hitch, NSE has revised trading hours from 1:20pm to 4:30pm.

NSE has also apologised to investors in the statement.

The NSE Automated Trading System (ATS) connects remotely to stockbroker offices, allowing them to trade from their premises.

Investors and stockbrokers will likely count losses as a result of the delays.

Stockbrokers in particular lose whenever there is limited or no trading, given that they derive their income from the commissions charged on trades.