KARACHI, April 10: Normal business was disrupted at the Karachi Stock Exchange on Thursday and trading could take place for 90 minutes outside the usual trading time, in the after noon.
In a press release, the KSE blamed “hardware failure” for the debacle. Instead of the normal trading hours between 9:30 am to 2:15 pm, the market could be opened up for trading between 3:30 to 5:00 pm.
“The unfortunate incident occurred because of hardware failure and the back-up system could not activate”, the KSE press release quoted Managing Director, KSE, Moin Fudda to have explained.
He said that the IT division of the bourse managed to activate the market systems and was working intensely to restore the original systems.
Moin Fudda said that the new back-up hardware was in the process of being procured and as soon as that was installed, the likelihood of such breakdowns would diminish. “The KSE has ensured that the problem which occurred today, does not affect all concerned in any adverse way”, the KSE MD said.
