Brokerage firms 5paisa and IIFL Securities have told clients that their systems are affected as a result of the Microsoft issue.
“Due to a global outage with Crowdstrike/Microsoft, offering a cyber security solution, our systems are affected. Our team is working closely with both of them to restore our systems as soon as possible,” brokerage firm 5paisa said on X.
Traders at Angel One, Nuvama, Motilal Oswal also reported tech outages. “You may be facing an intermittent issue due to a global outage faced by one of the solution providers. We are trying to get this resolved at the earliest,” Angel One said while responding to a user’s query on glitches at its system.
Discount broker Groww said it does not work with CrowdStrike and therefore its services haven’t been affected.Brokerage firm Nuvama said it witnessed limited impact as its networks are built to minimise the effects of such outages on the ecosystem. “We have deployed a software patch in our back office and settlement functions and reported the same to the exchanges,” said a Nuvama spokesperson.Upset traders ranted on social media platforms seeking compensation from brokers for their losses saying they were not able to sell positions because the app showed no pending orders.
While the London Stock Exchange’s Workspace news and data platform also suffered outage, Indian stock exchanges BSE and NSE said their services remain unaffected. “NSE and NCL are working normal today,” an NSE spokesperson said. A BSE spokesperson also said the bourse’s operations were running normally as it wasn’t impacted due to the Microsoft issue.
Microsoft users worldwide, including banks and airlines, reported widespread outages after which the tech company said the issue is being mitigated.
In India, the outage forced several airlines, including IndiGo, Akasa Airlines and SpiceJet, to ground planes and disrupt flight operations.
“An anti-virus Crowdstrike faced a technical glitch after an update that affected the Microsoft servers and PCs where this anti-virus was installed. This anti-virus is also installed on Microsoft servers provided by Azure as a part of their cloud infrastructure. Azure accounts for 25% market share amongst cloud services. Hence a lot of large organizations, airlines, stock exchanges globally who use Azure had technical glitches,” Parth Nyati, Founder, Tradingo, said.