The Security and Exchange Board of India vide its notification dated 22nd March 2021 has modified the framework of Business Continuity Plan( BCP) and Disaster Recovery(DR) of Market Infrastructure Institutions (MIIs).
It has been revised that the Stock Exchanges, Clearing Corporations and Depositories shall have in place BCP and DRS so as to maintain data and transaction integrity.
Apart from DRS, all MIIs including Depositories shall also have a Near Site (NS) to ensure zero data loss.
MIIs should develop systems that do not require configuration changes at the end of trading members/clearing members/depository participants for the switchover from the PDC to DRS. Further, MIIs should test such switchover functionality by conducting unannounced live trading from its DRS for at least 1 day every six months. Unannounced live trading from DRS of MIIs shall be done at a short notice of 45 minutes after 90 days from the date of this circular.
