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of <h1>SEBI Sets New Rules for Stock Brokers to Address and Report Trading System Glitches, Effective April 2023.</h1> The circular from SEBI establishes a framework to address technical glitches in stock brokers' electronic trading systems. It defines a technical glitch as any malfunction lasting five minutes or more due to inadequate infrastructure, cyber incidents, or procedural errors. Stock brokers must report glitches within an hour and provide a preliminary report by the next day, followed by a detailed Root Cause Analysis within 14 days. The framework mandates capacity planning, software testing, and change management to prevent glitches. It also outlines monitoring mechanisms, business continuity planning, and disaster recovery protocols. Stock exchanges will impose financial disincentives for non-compliance and publish glitch instances and analyses online. The circular takes effect on April 1, 2023.
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