Chairman of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch launched the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).
Risk mitigation in financial markets is an evergreen topic and constant efforts are made by regulators to address risks of various types.
The IRRA platform is one such initiative conceptualized and implemented by Market Infrastructure Institutions (MII) under the guidance of SEBI to reduce risks faced by investors in the event of technical problem at Trading Member’s end at Primary site and Disaster Recovery site.
MII soft launched IRRA platform with effect from October 3, 2023 and officially launched IRRA platform on Monday for the benefit of general investors.
The platform is available to the trading members supporting online trading and Security Trading through Wireless Technology for their investors.
IRRA, however, would not be available for algo trading and Institutional customers.
IRRA can be invoked by Business Members when they face a technical issue at their end affecting their ability to serve customers across exchanges from both — Primary site and Disaster Recovery site, where relevant.
During a call, after basic checks, the platform downloads Trading Member’s trades from all trading locations and sends an SMS/email to investors using online trading or wireless technology along with a link to access IRRA.
Investors using this link can review status of their investment, orders, etc., and place orders to square or close positions.