After the entry of an erroneous sale order on the National
Stock Exchange on October 5, 2012, when executing a basket
sale of the Nifty-50 stocks, the NSE had disabled our trading
facility in Cash and Derivatives Segment pending review of
the trades in question.
After a review of the facts and events surrounding the bona
fide error that led to the placement of an erroneous sale
order, the NSE has now reinstated our trading facility both
on Cash , Derivatives and currency segments. We have resumed
providing services to our clients on the NSE today consistent
with past practice, putting behind us the accidental
occurrences of October 5, 2012.
We have now subjected all our trading and risk management
systems to a further rigorous examination and have taken
various steps to avert any such manifest error in future. We
are well capitalized and continue to conduct our business for
both institutional and retail clients. We continue to work
with the NSE and the regulators to resolve issues arising out
of the bona fide human error. We are thankful to all our
stakeholders including our clients, employees, shareholders,
vendors, and very importantly, the Regulators , the Exchanges
and the entire stock broking community, which stood by us in
trying circumstances.
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