Safeguards to avoid trading disruption in case of failure of software vendor

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..... participants and market infrastructure institutions for the purpose of trading, risk management, clearing and settlement play a crucial role in the securities market. Any inability on the part of such software vendors to provide software or related services in timely and continuous manner may create a situation of stress in the securities market. 2. This issue was discussed with SEBI's Tech .....

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..... ftware vendors: (i) access to documents related to design and development specifications in the event software vendor fails to provide continuous and timely services to the stock broker; (ii) development of expertise at the end of the stock broker through appropriate training with regard to software usage and maintenance; (iii) appropriate penalty clauses for cases of disruptions to the t .....

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..... of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Maninder Cheema Deputy General Manager email: [email protected] - Circular - Trade Notice - Public Notice - Instructions - Off .....

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