TaxTMI 
TaxTMI 
Business Continuity for Interoperable Segments of Stock Exchanges
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..... 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 Institutions (MIIs). 2. In order to strengthen the Business Con....
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....resentative 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/ Currency Derivatives/ Interest Rate Derivatives etc.): 3.1. Commo....
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....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 may consider creating such an index and introducing derivatives contracts o....
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.... 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 changes, if any, in the systems of stock brokers / CCs to implement the measures menti....