MUMBAI: Most tech-driven financial services platforms faced outages during Friday’s high-intensity late session due to tech-glitch at Cloudflare, one of the companies that runs the internet globally. Traders in India faced issues with trade execution and cancellations on a day when the RBI policy and weekend considerations led to higher trading intensity than most other days. The issue was resolved after about an hour’s disruption, before the markets closed regular trading at 3.30pm.Among the leading tech-driven financial services platforms that were affected were Zerodha, Groww and Angel One. Most brokers faced issues with their web portal. Tech-related issues with their trading apps were limited, market players said.
This was the second major tech-issue in less than a month for Cloudflare, the company that powers 20-25% of global internet traffic, reports said. Zerodha asked its clients to use its WhatsApp channel for their trading activities during the Cloudflare outage. “Today, (Cloudflare) had a brief outage that affected Kite along with numerous other brokers, fintech platforms, and online services worldwide,” Nithin Kamath, co-founder, Zerodha said on X (formerly Twitter). Kite is the interface on Zerodha’s stock trading platform. “This is why we built Kite Backup on WhatsApp. This system is independent of our primary systems. When external outages impact Kite, you can still exit your positions through WhatsApp,” Kamath said in the post.
