Not able to square off leading to auction

superman

Well-Known Member
#1
Today i was not able to square off positions in one broker due to their platform issues.
Not just me, many have faced the same issue and they have accepted it in their twitter handler.

Since I was not able to square off , my short trades will go for auction as these wont be their in my demat. I will incur loss during this process - Auction mechanism always penalizes the trader + I will lose all my intraday profits today.

I have raised this concern and demanded for the compensation to customer care.
They will respond tomorrow I guess.

I have gathered all proofs and I am prepared to complain to NSE and SEBI for this in case they do not agree. Lets see if I can win this fight over.
Kindly share if anyone has experience in these sort of complaints / grievance where you are not able to square off due to broking platform issues.
 
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mastermind007

Well-Known Member
#3
This also might be a good time to read the 40 page long document that you signed with them in 40 places...

... and with a magnifying glass

If the brokerage company has admitted "server failure" on twitter, it is most likely that they've gotten
you to sign on a dotted line somewhere below a legalese phrase whereby they've gotten themselves
indemnified against any trade losses incurred by you due to software or hardware failure at/or
connected to their premises.

For first few days, the customer service will offer you a pillow to bang your head against
but if you are persisitent, pillow will get replaced by a cast iron beam.... Bang away all you want ...
 
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