Zerodha has reported that some of its users may be experiencing issues with their BSE Futures and Options (F&O) orders due to a connectivity problem. The glitch has resulted in orders appearing in the ‘Open Pending’ state, affecting users across multiple brokerage firms.
In a post on X (formerly Twitter), Zerodha confirmed the connectivity issues, “Due to a connectivity issue at BSE, some of our users may be seeing orders in the ‘Open Pending’ state for BSE F&O orders. This issue is across brokers. We are working with BSE to update the status of these orders.”
Due to a connectivity issue at BSE, some of our users may be seeing orders in the “Open Pending” state for BSE F&O orders. This issue is across brokers. We are working with BSE to update the status of these orders.Keep track of all the updates here: https://t.co/QChCSfPx48
— Zerodha (@zerodhaonline) July 12, 2024
The brokerage firm clarified that this issue is not exclusive to Zerodha but affects brokers universally. Users of Angel One, another brokerage, also reported difficulties in squaring off positions on social media.
To keep users informed, Zerodha has provided a bulletin link for real-time updates.
A few weeks ago, the platform faced a user outage and technical glitches. On June 21, traders encountered significant issues when stocks like India Cement, which were no longer under the F&O ban, were erroneously shown as banned, preventing order placements during a critical trading period. This led to widespread frustration, with one user on X urging the Securities and Exchange Board of India (SEBI) to hold Zerodha accountable for trader losses.
Earlier, on June 3, Zerodha experienced another technical glitch that disrupted user access to Kite Web, prompting a flood of complaints on social media. The stock broking platform has faced similar issues in January this year, as well as in November and December of the previous year.
This connectivity issue highlights ongoing challenges for online trading platforms in maintaining reliable service amid growing user bases and the complexities of stock exchange operations.
In its latest update, Zerodha announced on its bulletin, “The issue is resolved. Please check your orderbook if you have any open positions.”
Meanwhile, competitor Groww overtook Zerodha in terms of active users last September. As earlier reported by Business Standard, Groww’s active client base crossed the 10-million mark in May, making it the first Indian discount broker to achieve this milestone.
First Published: Jul 12 2024 | 12:31 PM IST
