IT Resilience Index for Market Infrastructure Institutions (MIIs)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ormance or compromise of these systems may adversely impact critical market operations and pose risks to the trust in the securities market. 2. Accordingly, it is imperative that MIIs ensure the availability, reliability, performance and cyber resilience of their IT systems through robust governance, proactive monitoring and timely corrective measures, so that the securities market continues to operate in a fair, transparent and efficient manner. 3. In order to discharge their role of performance monitoring and ensure timely service delivery to market participants, a framework covering oversight of resilience of IT systems, identifying emerging weaknesses at early stage and initiation of timely corrective measures, has been formulated....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed measurement criteria for each parameter of ITRI (mentioned at Para 5.2 above) by November 30, 2026. 5.4. MIIs shall compute ITRI on a half-yearly basis within a period of 60 days from the end of each half-year and submit the comparative analysis of two consecutive half-years (on a rolling basis) and corrective actions taken (or proposed to be taken), to their Standing Committee on Technology (SCOT) and the Governing Board 5.5. The MIIs shall ensure that the computation of ITRI shall be system-driven, i.e., ITRI would be computed automatically from IT systems (or data extracted from such systems) without manual intervention. This is stipulated with the objective of ensuring that computation of ITRI remains non-discretion....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ss etc. 8. It is further stipulated that MIIs shall build systems providing continuous visibility in to service delivery to market participants. Such systems shall include consolidated dashboards that will assist in monitoring system/application performance and continuous service delivery as well as any deviation / anomalies thereof. 9. MIIs shall also formulate SOPs with regard to para 8 above to monitor availability of systems and continuity of service delivery to all market participants and flag any disruption / deviation thereof. E. Implementation Time 10. The implementation timeline for operationalization of the ITRI framework by MIIs shall be as follows 10.1. MIIs have already implemented the beta version of the I....