TaxTMI 
TaxTMI 
Business Continuity for Interoperable Segments of Stock Exchanges
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....tinuity for Interoperable Segments of Stock Exchanges 1. Clause 9 of Chapter 2 of SEBI Master Circular dated October 16, 2023, for Stock Exchanges and Clearing Corporations as well as Clause 4.31 of Section 4 of SEBI Master Circular dated October 06, 2023, for Depositories provide guidelines for Business Continuity Planning (BCP) and Disaster Recovery Site (DRS) for Market Infrastructure Instit....
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....end investors. A working group of stock exchanges, CCs and representative qualified stock brokers (QSBs) was created to deliberate the matter. In view of the deliberations of the aforesaid working group and subsequent discussions with Secondary Market Advisory Committee of SEBI, following has been decided for the interoperable segments of stock exchanges (i.e. Cash Market/ Equity Derivatives/ Curr....
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....ed scrips on other exchange) and single stock derivatives not traded on their exchange (and available on other exchange), to be invoked at the time of outage on the other exchange. 3.3. Index derivatives products not having correlated index derivatives products on another exchange: Exchange which does not have a highly correlated index derivatives product with one available on other exchange....
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....has been decided that to begin with, NSE would act as an alternative trading venue for BSE and vice-a-versa. Both exchanges would prepare a joint SOP that would include plan to be invoked at the time of outage on one exchange along with flow of activity involving the affected exchange and its alternative trading venue and roles/responsibility of each of them. Further, the SOP shall also cover chan....