Zerodha traders struggled to exit Sensex options for sometime, report losses

Many traders complained of being unable to exit their Sensex option trades on Zerodha on Friday. The brokerage firm said the orders of some of its Kite trading platform users in the BSE Futures & Options segment were intermittently affected but was later resolved.

Many users complained of issues with Zerodha's Kite platform.
Many users complained of issues with Zerodha’s Kite platform.

“Due to an issue with the internet service providers (ISPs), the orders of some of our users in the BFO segment were intermittently affected. Trading in the other segments was unaffected,” Zeodha said in a statement.

In an update, at around 3:30 pm, it said that the issue is resolved.

Traders say faced loss due to the issue

However, many traders said that due to the issue, they faced loss in their trading.

“What’s hell going in zerodha. Our client cancelled order at 2:45. But order executed on 3:36pm and showing loss of 6,200. Zerodha customer care telling I can’t do anything,” a user wrote on Twitter.

“Issue with broker but who will refund our losses? Lost 1 lac 77k which is 6% of my capital,” another user tweeted, tagging Zerodha, Bombay Stock Exchange and National Stock Exchange.

Many netizens echoed similar problems of their orders getting rejected. “Who is going to pay for that time. When we want to exit we are not able to and now we are seeing losses. Who will bear this loss?” a user asked.

Some more reactions on Zerodha server glitch

BSE Ltd has reintroduced have reintroduced F&O contracts for the Sensex and Bankex indices. Traders can now trade in smaller quantities. For the Sensex F&O contracts, the lot size has been reduced from 15 to 10. Similarly, for Bankex index contracts, the lot size has been changed from 20 to 15.

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