Greetings Shoonya Family!
There was a technical glitch on April 13th, a first-of-its-kind event in our 15-year operational history. We understand the inconvenience caused to our customers and are responding to queries through social media and direct communication.
This blog will help you comprehend the situation and to take necessary actions.
Related to the Technical Glitch
A. What was the technical glitch?
The trading platform faced a technical issue on 13th April 2023, especially between 9 AM to 11 AM. This caused a mismatch of trades at the front end of client accounts. Customers who placed trades in this time frame may have seen a mismatch even though their trades were executed correctly at the backend with the exchanges.
B. Was this issue only when 1st trades were placed between 9 am to 11 am?
Yes, the issue persisted only for the customers who placed orders between 9–11 am. Customers who placed their 1st orders during this time faced the problem throughout the day, even if they would have repeated the same order later.
For instance, if a customer made their first trade at 10:30 am and then again at 11:30 am, the problem persisted, and the trades kept getting rejected or declined.
However, if a customer made their first trade after 11 am, they would not have experienced any difficulties.
C. What was the immediate action from Shoonya to resolve the technical glitch?
Our teams were in action immediately & worked round the clock to find an amicable resolution for the issue. As per BAU (business-as-usual) protocol, the systems were also rebooted. Be assured that measures are being put in place to prevent it from happening again, in line with the regulatory guidelines.
D. What are ‘ghost trades’ in the account?
‘Ghost Trade’ is being talked about on social media. This means that some customers were seeing a mismatch of trades in their individual client accounts, whereas they had not placed those requests. the issue was only with the front end and not the back end. The trades were executed in the correct trading accounts with the exchanges.
Trades placed after 11 AM did not experience any glitches at the backend.
Shoonya customers have been sent a mail communication detailing the process to take necessary actions. This video will help you understand the process: https://bit.ly/3mGfEFi
E. How can I contact the Risk Management Department for my dispute case?
If you see any discrepancies in your trade, please close/square off them before 9.30 am on 17th April 2023, and you can email the details to our Risk Management Department at [email protected].
Our team will review your case and get in touch with you for further assistance.
Related to Loss/Payouts
A. How does Shoonya refund or cover my Losses?
We understand and deeply regret the frustration this technical glitch might have caused. Shoonya has sent a mail communication detailing the steps you can take to resolve the issue.
If you have not received the mail, don’t worry, we have detailed the steps here for you: https://bit.ly/impupdt
Please note: If there are any discrepant trades in your contract note, which you did not initiate, you are advised to close/square them off before 9:30 AM on Monday, 17th April 2023.
Once you have squared off your trades from your account, please raise a dispute case by sharing the details of discrepancies by emailing our Risk Management Department. They can be reached at [email protected].
B. Seeing a loss due to a technical glitch. What should I do?
We’re sorry to hear that you’re experiencing a loss. We recommend verifying your trades from your contract note. If you see any discrepancy, please don’t hesitate to share your concern with us at [email protected].
C. What should I do if I haven’t received my payout yet?
The pending Payouts requested on 13th April were processed on 15 Apr 2023 and should reflect in your statements.
As Friday was a bank holiday, all payouts requested on 13 Apr 2023 were initiated on Saturday, April 15th, 2023. As per policy, fresh payouts can be requested from Mon-Fri, 8:30 AM – 5 PM. (Except Bank/Exchange Holidays)
If you still haven’t received your payout, please write us at [email protected], and our team will contact you.
Related to Discrepancy in Contract Notes
A. How can I check my Contract Note?
Our team has sent your contract note to your registered email id. If you haven’t received it, you can download it from here– Shoonya back office portal at https://reports.shoonya.com/Account/Login
You can refer to this video guide on how to Download your Contract Note in easy steps- https://bit.ly/3A0q31u
B. How do I check for discrepant trades in my account?
To check for any discrepant trades in your account, download the contract note and check for any open positions you did not initiate.
If you haven’t received it on your registered email ID, you can easily download it from the Shoonya back office portal- https://reports.shoonya.com/Account/Login
You can refer to this video guide on how to Download your Contract Note in easy steps- https://bit.ly/3A0q31u
Please note: Once you close these positions before 9:30 AM on Monday, 17 April 2023, please send details to our team at [email protected].
C. I found discrepancies/ ghost trades in my Contract Note. What do I do next?
If you see unwanted/discrepant open positions in your Contract Note from 13th April 2023, you must close these positions before 9:30 AM on Monday, 17 April 2023. Once this is done, please send details to our team at [email protected]. They will thoroughly review your query and provide you with an amicable solution.
Please Note: Any positions that remain open after 9:30 AM on Monday, 17th April 2023, will be considered as transactions that you have chosen to make (undisputed) and will not be eligible for any further action.
D. I don’t know how to square off my open positions. What is the process?
We have created a step-by-step guide to help you square off your discrepant trades:
- How to Square Off Discrepant Trades in Equity Cash.
- How to Square Off Discrepant Trades in FnO/MCX segment.
Related to Order Placement Issues
A. Why Am I unable to Square Off Open Trades?
The Exchanges are open for trading on weekdays from Monday to Friday, which makes it possible for traders to execute their respective trades. Hence, as per the guidelines and the industry process, it is only possible to close the above-mentioned open positions earliest on Monday, 17 April 2023.
Please refer to this video for a step-by-step guide on how to square off your trades: https://bit.ly/impupdt
Related to Customer Support
A. Can you guide me on how to file a complaint about my loss?
We are here to support you. To file any discrepant trade or a loss, you can write to us at [email protected]. Our team will contact you soon.
B. I’m having trouble reaching Customer Care. What should I do?
We regret the inconvenience. We were inundated with customer calls, which can be a reason why you could not reach us. Â We recommend emailing your concern to [email protected], and our team will get back to you as soon as possible.Â
General Queries
A. What additional support or resources can I refer to during this time?
While our dedicated team is already working hard to address any concerns or issues that may arise, we want to assure you that we will continue to send updates to maintain transparency.
We have created a step-by-step guide to help you perform important actions:
- How you can easily Download Contract Notes.
- How to Identify discrepant trades in these Contract Notes and square them off before 9:30 AM on Monday, 17th April 2023.
- Importance to raise a dispute case over an email to our Risk Management Department – [email protected].
You can access them here:
- The text version- https://bit.ly/impupdt
- The video version – https://bit.ly/3mH9JzF
We advise you to follow us for continuous updates- https://twitter.com/shoonyaapp
B. Will I be able to use the Shoonya App from Monday?
Yes, you will be able to use the Shoonya App from Monday, 17th April. Shoonya has identified and resolved the technical glitch and successfully participated in mock trading on Saturday, April 15th.
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.