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of <h1>SEBI Introduces New SaaS Framework for Clearing Corporations to Boost Resilience in Risk Management Systems.</h1> The circular issued by the Securities and Exchange Board of India (SEBI) outlines a new framework for business continuity for Clearing Corporations (CCs) using a Software as a Service (SaaS) model. This model aims to enhance the resilience of Market Infrastructure Institutions (MIIs) against software malfunctions, particularly in Risk Management Systems (RMS). CCs are required to implement a SaaS-RMS system, allowing them to use RMS software from another CC as a contingency measure. The circular mandates agreements outlining roles and responsibilities, quarterly mock sessions, and infrastructure updates. The framework is effective immediately, and CCs must submit revised Business Continuity Policies to SEBI within two months.
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