The Securities and Exchange Board of India (SEBI) has asked the Governing Board of the National Stock Exchange (NSE) to determine whether to shift the operations of the NSE from the primary site to the Disaster Recovery (DR) site within the time frame specified by SESE. Why did it fail , Day trading halted last month.
The Governing Board has also been asked to fix personal responsibilities for the same. According to the SEBI order, these need to be completed within 21 days.
On February 24, 2021, SEBI probing the trading halt incident at NSE has also directed NSE and NSE Clearing Limited (NCL) to update the functionality of collaters in NCL’s ‘Slave System’ housed in the data center. . BSE / MSEI and Connect Trading System at NSE’s primary site for NCL PL’s slave system in BSE / MSEI’s data center. These are to be implemented within 90 days.
In connection with the trading halt NSE presented its detailed Root Cause Analysis (RCA) before the SEBI Technical Advisory Committee (TAC) on Monday.
After proper deliberation it was decided that all market infrastructure institutions (MII) switch to functionality by conducting undisclosed live trading from the DR site of MII, to ensure speedy operations in case of any disaster / technical glitch. do. 45 minutes.
“In the event of the disintegration of any one or more ‘critical systems’ (as defined below), MII shall declare that event a ‘disaster’, within 30 minutes (from a pre-requisite of 2 hours) of the event. Take measures to restore operations from the DRS within 45 minutes of the declaration of a ‘disaster’ (from the requirement before 2pm).
Accordingly, the Recovery Time Objective (RTO) – the maximum time it takes for DRS to restore operations of ‘critical systems’ after the declaration of a disaster – would be 45 minutes, SEBI said.
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