New Delhi: Shoonya, a leading zero-brokerage platform, has announced that it will support its customers who were affected by a technical issue on April 13th, 2023. The company has covered losses worth Rs. 3.5 crore as of May 3rd, 2023, and is currently in the process of resolving customer disputes.
Shoonya resolved the technical issue by conducting a thorough audit and mock trades, ensuring that its platform returned to normalcy from the next trading session. The impact of this issue was limited to customers who attempted to log their first trades between 9:15 AM and 9:30 AM on the same day. The company remained transparent with its customers from the early trading hours, providing important communication as required.
To resolve the issue, Shoonya requested affected customers to close any open positions initiated by the technical issue and share details of their dispute with a dedicated email address. While the trading platform is not liable to cover losses due to technical issues, Shoonya has decided to compensate its customers for credible losses. As of May 3rd, 2023, the company received approximately 700 disputes, of which 77.36% were eligible for compensation. The company has resolved 81.45% of these disputes, and it is continuing to engage with affected customers.
By covering the losses of its affected customers, Shoonya has demonstrated its commitment to customer satisfaction and strengthened its reputation as a responsible and customer-centric platform. Shoonya’s quick resolution of the technical issue and transparent communication with its customers have also contributed to its positive image in the market. The company’s efforts to resolve customer disputes and compensate for credible losses are commendable, and they are likely to enhance customer loyalty and attract new customers to the platform.