SEBI, vide circular, has discontinued the Investor Risk Applicable to Reduction Access (“IRRA”) platform with immediate effect,v considering it structurally redundant due to significant technological advancements and strengthened business continuity measures adopted by stock brokers and stock exchanges. SEBI noted that enhanced BCP-DR frameworks, cyber resilience mechanisms, Security Operations Centre (M- SoC), technical glitch frameworks, and the availability of the
Contingency Pool Trading facility have substantially improved operational continuity and investor service resilience. Since the IRRA platform, introduced in December 2022 and operationalized from October 01, 2023, had not been utilized by stock brokers, stock exchanges unanimously recommended
its discontinuation. Accordingly, the earlier SEBI circular dated December 30, 2022 stands superseded, while stock exchanges have been advised to further review and strengthen
the Contingency Pool Trading framework.
