Zerodha demat A/Cs hit with another technical glitch

NEW DELHI: Domestic stock broking firm Zerodha, which lost its No.1 status to rival Groww last month, on Monday reported another technical glitch. On its trading platform Kite, traders said the pages displaying their order book as well as positions was blank.

“Due to an intermittent issue, some of our users are not able to see executed orders in the orderbook. However, the executed orders are updated on the positions page. The holdings and funds page is also not loading. We’re working on fixing this and regret the inconvenience caused,” Zerodha said in a note to clients.

As a result of the glitch, traders were unable to exit positions, leading to losses.

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Last week, too, Zerodha users faced an issue with the previous closing price and circuit limits for BSE scrips. The invested value for some of its clients was showing incorrectly on the Kite app.

With the rising dependence on technology in the securities market, there has been a rise in instances of glitches in trading members’ systems, some of which led to disruption of trading services and investor complaints.

To address this issue, the National Stock Exchange had recently announced Investor Risk Reduction Access (IRRA) platform where traders can square off or settle their trades in case of a disruption in trading services provided by the broker. However, fresh positions or new orders cannot be placed through the IRRA platform.

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