The Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE) was unveiled by the Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch. Aimed to enhance the primary objective of risk mitigation, here are some key ways how the IRRA can be instrumental in making market transactions significantly safer for investors-

  • IRRA can be invoked by Trading Members when they are faced with a technical glitch at their end impacting their ability to service clients across exchanges from both – Primary site and Disaster Recovery site.
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  •  On invocation, after basic checks, the platform downloads trades of Trading Member from all the trading venues and sends SMS/email to investors along with a link to access IRRA.

  • Investors using this link can review of status of their investment, orders and place orders for squaring off or closing positions. They can even cancel positions if required.
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  • The platform is available to the trading members supporting Internet-based trading and Security Trading through Wireless Technology for their investors.
  • The platform is not available for algo trading and Institutional clients

While the primary Objective of the IRRA platform is enabling closing open position in case of disruption, it aims to streamline operational challenges faced by brokers and and is accessible on both the browser and mobile front-end.

Speaking at the launch, SEBI Chairperson Madhabi Puri Buch highlighted that, “the IRRA is like a backup plan and helps investors/traders with an option to know what to do in case of emergency. This is in many ways manifestation of immense amount of potential that India has and the transformation of country that is envisaged through tech and help realise its potential.”

Touching upon investor protection measures taken by MIIs or the Market Infrastructure Institutions , Buch pointed out that, “the Journey of investor protection has come a long way….effectively ensuring that the investor asset is protected. IRRA ensures if a broker faces outage of any kind, investor risk is covered to a large extent by tech deployment.”