Indian stock exchanges had ZERO impact during the worldwide meltdown of Windows systems due to MS/CrowdStrike outage.
And the reason for this spectacular successful exhibit?
Well, low IT spending :)
"...the NSE allocates ₹570 crore for IT expenses, significantly lower than the London Stock Exchange Group (LSEG) at ₹6,556 crore, NASDAQ at ₹1,949 crore, and the Hong Kong Exchange (HKEX) at ₹6,807 crore."
In terms of total costs, the NSE reported ₹3,036 crore, in contrast to NASDAQ's ₹23,734 crore and HKEX's ₹69,313 crore. Revenue figures for these exchanges were also reported, with the NSE earning ₹12,692 crore, NASDAQ ₹32,574 crore, and HKEX a substantial ₹171,575 crore
Of course NSE isn’t as big as others - but in the light of recent MS/CrowdStrike outage, do you think low tech-savviness is a feature or a bug?
What’s your take?
Going all-in on latest tech is cool, but given the crazy impact of MS/CrowdStrike outage (some people weren’t even able to open their fridge) - do you think being low tech (rather normal) is just fine?
PS: This is an open thread. You can reply to this via email as well.
If you notice the revenue vs spending they are in comparable order of magnitude. Yes NSE still spends lower vis a vis the other exchanges but can we attribute that to cost arbitrage?
Yes - lesser spending, lesser revenue. But not sure we can attribute to cost arbitrage.
Aside, India's finance orgs have been low on tech and that has helped in most of the cases - for e.g. RBI's stance on crypto trading surely helped many Indians from being scammed.
If you notice the revenue vs spending they are in comparable order of magnitude. Yes NSE still spends lower vis a vis the other exchanges but can we attribute that to cost arbitrage?
Yes - lesser spending, lesser revenue. But not sure we can attribute to cost arbitrage.
Aside, India's finance orgs have been low on tech and that has helped in most of the cases - for e.g. RBI's stance on crypto trading surely helped many Indians from being scammed.