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The instrument revises the technical-glitch framework: it...
Broker trading-system "technical glitch" redefinition and narrowed incident-reporting regime for large IBT/STWT brokers requiring 2-hr notice and 14-working-day RCA
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The instrument revises the technical-glitch framework: it redefines "technical glitch" to mean broker-system malfunctions impacting trading/risk functions for ≥5 contiguous minutes and excludes specified external or non-trading/back-office issues, thereby narrowing reportable events. It limits applicability to brokers operating IBT/STWT platforms with >10,000 active clients, thereby excluding smaller brokers from the regime. It prescribes streamlined reporting - notify exchange and clients within 2 hours, file a preliminary incident report by T+1 (next trading day if holiday) and an RCA within 14 working days via a Common Reporting Platform - thereby standardizing timelines and submission. It rationalizes capacity-planning, software-testing, BCP/DRS and financial disincentives by broker size, mandates exchanges to issue detailed guidelines and publish incidents, and supersedes the earlier circular; effective January 9, 2026.
The instrument revises the technical-glitch framework: it redefines "technical glitch" to mean broker-system malfunctions impacting trading/risk functions for ≥5 contiguous minutes and excludes specified external or non-trading/back-office issues, thereby narrowing reportable events. It limits applicability to brokers operating IBT/STWT platforms with >10,000 active clients, thereby excluding smaller brokers from the regime. It prescribes streamlined reporting - notify exchange and clients within 2 hours, file a preliminary incident report by T+1 (next trading day if holiday) and an RCA within 14 working days via a Common Reporting Platform - thereby standardizing timelines and submission. It rationalizes capacity-planning, software-testing, BCP/DRS and financial disincentives by broker size, mandates exchanges to issue detailed guidelines and publish incidents, and supersedes the earlier circular; effective January 9, 2026.
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