Indian stock exchanges and clearing corporations have no impact of Microsoft outrage
Jul 20, 2024
New Delhi [India], July 20 : The stock market exchanges released a joint statement on Saturday of all exchanges on the global outrage of Microsoft systems.
The Indian exchanges have stated that all stock market exchanges in India were not much affected by the outrage and functioned without any impact.
"On July 19, 2024, there was a global outage of Microsoft Systems. This outage has been reported to have caused disruptions across various sectors globally. In India, all Exchanges and Clearing Corporations functioned without any impact" said a joint statement by Indian stock exchanges.
The statement also highlighted that only 11 trading members reported the disruptions in operation due to the outrage, which was either resolved or being resolved, and there was no major impact on clearing activities in the Indian securities market.
"Out of the 1400+ trading members' ecosystem, there were 11 trading members who reported disruptions to their operations, which were either resolved during the day or are being resolved. Overall, Exchanges & Clearing Corporations have not witnessed any significant impact to the trading" the statement added.
The disruption, which began on Friday, was linked to a severe outage impacting Microsoft Windows systems. To a large extent, flight operations, banking services, financial services, and hospitals, among other key services, are disrupted globally due to an outage in Microsoft's cloud services.
The Indian Computer Emergency Response Team (CERT-In) issued an advisory, addressing the widespread issue caused by the latest update of the CrowdStrike agent, Falcon Sensor. This update led to system crashes and the "Blue Screen of Death" (BSOD), affecting numerous Windows hosts equipped with the CrowdStrike Falcon Sensor.
Reports indicated that the update had caused stability issues, rendering many systems inoperable. In response, CrowdStrike reverted the changes made in the recent update. However, for hosts experiencing crashes, CERT-In recommended specific mitigation steps.
In India, the services that were most disrupted were flight operations. Virtually all airline operators had to either cancel or reschedule the flights, causing inconvenience to millions of flyers.
