The Investor Risk Reduction Access (IRRA) platform is now open to trading members across exchanges from October 3.
The IRRA platform will be available to the TMs supporting internet based trading and Security Trading through Wireless Technology for their investors. IRRA will not be available for algo trading and institutional clients.
Last year SEBI outlined guidelines where TMs faced challenges in conducting regular business operation due to reasons like technical glitches or outages. These issues might render the member’s primary site (PR) inaccessible to its investors. In such scenarios, members are advised to move to their disaster recovery (DR) site to conduct normal business.
In case the member is unable to conduct normal business at their PR as well as their DR site, the members’ investors can cancel pending orders and/or square off their outstanding positions using a common platform under the guidelines of IRRA, jointly provided by all exchanges.
TMs who are not required to maintain DR site as per the eligibility criteria prescribed by SEBI, can request to avail the IRRA platform whenever their PR site is not available to conduct regular business due to the aforementioned conditions. Exchanges collectively suo moto can also initiate a TM to IRRA based on their monitoring of the Trading Members.