Mumbai, Nov 20 Chairperson of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch has launched the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).
Risk Mitigation in financial markets is an evergreen subject and constant efforts are made by regulators to address risks of various kinds.
The IRRA platform is one such initiative conceptualised and implemented by Market Infrastructure Institutions (MIIs) under the guidance of SEBI to reduce risks faced by investors in the eventuality of technical glitch at Trading Member end at both Primary site and Disaster Recovery site.
MIIs soft launched IRRA platform with effect from October 3, 2023 and officially launched IRRA platform on Monday for the benefit of investors at large.
The platform is available to the trading members supporting Internet-based trading and Security Trading through Wireless Technology for their investors.
IRRA however would not be available for algo trading and Institutional clients.
IRRA can be invoked by Trading Members when they are faced with a technical glitch at their end impacting their ability to service clients across exchanges from both -- Primary site and Disaster Recovery site, where relevant.
On invocation, after basic checks, the platform downloads trades of Trading Member from all the trading venues and sends SMS/email to investors using internet trading or wireless technology along with a link to access IRRA.
Investors using this link can review of status of their investment, orders etc., and place orders for squaring off or closing positions.
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