The London Stock Exchange Group (LSEG) successfully resolved a technical issue that affected the foreign exchange (FX) trading system in India. The incident, which occurred between 02:15 GMT and 06:26 GMT on Thursday, disrupted some traders’ access to the platform. LSEG, a key player authorized by the Reserve Bank of India to operate in the FX market, attributed the disruption to a third-party connectivity problem.

During the outage, traders faced challenges logging into their terminals, hampering their ability to engage in transactions on the platform. However, LSEG confirmed that all services have been fully restored, reassuring users that equities trading remained unaffected by the incident. The temporary disruptions in the system led to reduced trading volumes in the market.

The impact of the technical glitch was felt across the market, with traders from various banks reporting difficulties in accessing their systems. Despite the initial setback, normalcy has since been restored, allowing traders to resume their activities. The incident underscored the growing reliance on electronic trading platforms for efficient market operations.

LSEG’s swift resolution of the issue highlights the critical role of robust technical infrastructure in the financial markets. The incident serves as a reminder of the importance of backup systems and contingency plans to mitigate disruptions and ensure the smooth functioning of trading activities. Market participants, including banks and traders, have emphasized the need for continuous monitoring and quick response mechanisms to address such technical challenges promptly.

The incident in India sheds light on the interconnected nature of global financial markets and the significance of efficient trading systems in facilitating smooth transactions. As technology continues to play a pivotal role in financial operations, ensuring the resilience and stability of trading platforms remains paramount. The incident serves as a learning opportunity for market operators to strengthen their technological capabilities and enhance system reliability to prevent future disruptions.