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TMI BlogGuidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs)X X X X Extracts X X X X X X X X Extracts X X X X ..... With advancement in technology and improved automation of processes, it was felt that the extant framework needs to be re-examined with a view to reducing the time period specified for moving from Primary Data Centre(PDC) to DRS. 3. Upon examination and based on consultation with MIIs and Technical Advisory Committee (TAC) of SEBI, the modified framework for BCP and DR shall be as under: a. Stock Exchanges, Clearing Corporations and Depositories (collectively referred as Market Infrastructure Institutions MIIs) shall have in place BCP and DRS so as to maintain data and transaction integrity. b. Apart from DRS, all MIIs including Depositories shall also have a Near Site (NS) to ensure zero data loss. c. The DRS should p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MIIs shall conduct periodic training programs to enhance the preparedness and awareness level among its employees and outsourced staff, vendors, etc. to perform as per BCP policy. 4. Configuration of DRS/NS with PDC a. Hardware, system software, application environment, network and security devices and associated application environments of DRS / NS and PDC shall have one to one correspondence between them. b. MIIs should develop systems that do not require configuration changes at the end of trading members/ clearing members/ depository participants for 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 in every six ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cs. g. Replication architecture, bandwidth and load consideration between the DRS / NS and PDC should be within stipulated RTO and ensure high availability, right sizing, and no single point of failure. h. Replication between PDC and NS should be synchronous to ensure zero data loss whereas, the one between PDC and DRS and between NS and DRS may be asynchronous. i. Adequate resources (with appropriate training and experience) should be available at all times to handle operations at PDC, NS or DRS, as the case may be, on a regular basis as well as during disasters. 5. DR drills/Testing a. DR drills should be conducted on a quarterly basis. In case of Exchanges and Clearing Corporations, these drills should be close ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... io of intraday shifting from PDC to DRS during the mock trading sessions in order to demonstrate its preparedness to meet RTO/RPO as stipulated above. i. MII should undertake and document Root Cause Analysis (RCA) of their technical/ system related problems in order to identify the causes and to prevent reoccurrence of similar problems. 6. BCP DR Policy Document a. MIIs shall put in place a comprehensive BCP-DR policy document outlining the following: i. Broad scenarios that would be defined as a Disaster for an MII (in addition to definition provided in para 4 (c) of the circular). ii. Standard Operating Procedure to be followed in the event of Disaster. iii. Escalation hierarchy within the MII to handle t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ems and networks. 7. Considering the above, Stock Exchanges, Clearing Corporations and Depositories are advised to submit their revised BCP DR policy to SEBI within 3 months from the date of this circular. Further, they should also ensure that clause 5(f) and 6(a)(v) mentioned above is also included in the scope of System Audit. 8. This circular is being issued in exercise 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. 9. This circular is available on SEBI website at www.sebi.gov.in under the categories Legal Framework and Circulars . 10. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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