Mumbai
Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI), officially launched the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE). The platform is designed to reduce risks for investors in the event of technical glitches at the Trading Member’s end at both the Primary site and the Disaster Recovery site. The IRRA platform, implemented by Market Infrastructure Institutions (MIIs) under SEBI’s guidance, had a soft launch on October 3, 2023. It is now officially launched to benefit investors at large. The platform is accessible to trading members supporting internet-based trading and security trading through wireless technology for their investors. However, it is not available for algo trading and institutional clients. Trading members can invoke IRRA when facing technical glitches impacting their ability to service clients across exchanges from both the primary site and the disaster recovery site. Upon invocation, the platform downloads trades of the trading member from all trading venues and sends SMS/email notifications to investors using internet trading or wireless technology. The notifications include a link to access the IRRA platform. Investors can use the provided link to review the status of their investments, orders, and place orders for squaring off or closing positions. The IRRA platform aims to enhance risk mitigation in financial markets, offering investors a means to manage their investments in the event of technical disruptions.
